I own a freehold premises in Salcombe yet pay rent, why is this and what is this?
It’s unusual for properties in Salcombe and has limited impact for conveyancing in Salcombe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We are buying a newly converted flat in Salcombe with a mortgage from National Westminster Bank.We would like to retain our Salcombe conveyancing solicitor but National Westminster Bank says she’s not on their "panel". We have to appoint a National Westminster Bank panel firm or keep our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, one of which will be that lawyers needs to be on the National Westminster Bank approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank
A relative suggested that if I am purchasing in Salcombe I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Salcombe conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Salcombe around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Salcombe Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Salcombe Education with plans and statistics, Local Amenities and other useful data concerning Salcombe.
I am looking to sell my home. My previous lawyers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Salcombe if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Salcombe. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
My partner has suggested that I appoint his conveyancers in Salcombe. Should I use them?
Much as we are happy to recommend a Salcombe conveyancing lawyer the ideal way to choose a conveyancing practitioner is to seek recommendations from friends or relatives who have used the solicitor that you are contemplating using.
Estate agents have just been given the go-ahead to market my garden flat in Salcombe. Conveyancing lawyers have not yet been instructed, but I have just received a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is clear the service charge as normal given that all ground rent and service payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a 1 bedroom flat in Salcombe, conveyancing having been completed August 2008. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Salcombe with a long lease are worth £185,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2084
With just 59 years remaining on your lease the likely cost is going to span between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.