I purchased a freehold premises in Shoreham By Sea but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Shoreham By Sea and has limited impact for conveyancing in Shoreham By Sea 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather instruct a specialised conveyancing solicitor in Shoreham By Sea?
Do check but the chances are that appoint one of their panel lawyers should you want the "fee-free" deal. Call the bank to determine if they make available a cash alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Shoreham By Sea.
I have been told that property searches are the primary reason for obstruction in Shoreham By Sea house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Shoreham By Sea.
My husband and I are new on the property ladder - had an offer accepted, yet the selling agent told us that the vendor will only issue a contract if we appoint their preferred conveyancers as they are insisting on a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Shoreham By Sea
We suspect that the owner is unaware of this requirement. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you are going to appoint your own,trusted Shoreham By Sea conveyancing firm - not the ones that will give their negotiator at the agency a commission or meet his conveyancing thresholds demanded by senior management.
I wish to sublet my leasehold flat in Shoreham By Sea. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Your lease governs the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Shoreham By Sea do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I inherited a 1st floor flat in Shoreham By Sea, conveyancing formalities finalised in 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Shoreham By Sea with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2094
With just 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
Can you refer me to a conveyancer for buying a house? Ideally someone in the Shoreham By Sea area, who will contact me via email - not someone who insists on a letter in the post or fax.
LenderPanel.com is restricted to being a directory service for lawyers who want to be listed as being on the approved conveyancing panel for UBS in certain locations such as Shoreham By Sea . Our intention is not to recommend any specific conveyancer.