I purchased a freehold premises in Southsea but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Southsea and has limited impact for conveyancing in Southsea 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 generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We just had an offer accepted to buy with Earl Shilton BS. We have called around locally but am struggling to find a Southsea conveyancing firm on the Earl Shilton BS panel. Please you help?
Feel free to take advantage of the find a conveyancing panel solicitor tool on this web page. Pick the building society and type Southsea or your preferred area and you will be presented with numerous solicitors based in Southsea or nearest you.
It has been 3 months since my purchase conveyancing in Southsea completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Southsea differ for new build properties?
Most buyers of new build or newly converted property in Southsea contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Southsea usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Southsea or who has acted in the same development.
I am a sole trader wishing to lease a unit on the high street. Can you recommend lawyers offering competitive charges for non-domestic conveyancing in Southsea for below 1500k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Southsea, including the disposal and purchase of businesses as well as simply property. Whether you are intending to buy or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can find you the right solicitor. As for the costs this will depend on the structure and heads of terms of the deal. Please provide us with your details or call so as to enable us to furnish you with a detailed commercial conveyancing quote.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Southsea. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Southsea ?
Most houses in Southsea are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Southsea in which case you should be shopping around for a Southsea conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
Leasehold Conveyancing in Southsea - Examples of Questions you should ask Prior to Purchasing
Is anyone aware of any major works in the near future that will likely add a premium to the maintenance charges? What restrictions are there in the Southsea Lease?