I own a freehold house in Swanland yet charged rent, why is this and what is this?
It’s unusual for properties in Swanland and has limited impact for conveyancing in Swanland 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
It has been 4 months following my purchase conveyancing in Swanland completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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.
I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Swanland I like with amenity areas and transport links nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Swanland for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
My husband and I are first time buyers - agreed a price, yet the agent told us that the vendor will only move forward if we appoint the agent's chosen lawyers as they are insisting on a ‘quick sale’. We would rather use a local solicitor who is accustomed to conveyancing in Swanland
We suspect that the seller is not behind this requirement. Should the seller require ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to appoint your preferred Swanland conveyancing lawyers - not the ones that will earn the estate agent a introducer fee or hit his conveyancing targets set by HQ.
Expecting to sign contracts shortly on a studio apartment in Swanland. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Swanland should include some of the following:
Specifying your rights in relation to the communal areas in the block.For instance, does the lease provide for a right of way over an accessway or hallways? Are pets allowed in the flat? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? specifics of the parties to the lease, e.g. these could be the (you), superior lessor, landlord The physical extent of the premises. This might be the apartment itself but might incorporate a roof space or storage are if applicable.
Swanland Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
The best form of lease structure is a share of the freehold. In this arrangement the leaseholders benefit from control and even though a managing agent is usually retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Is anyone aware of any major works on the horizon that could increase the service charges? It would be a good idea to discover if the the lease contains any adverse restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Swanland. If you like the apartmentin Swanland however your cat is not allowed to make the move with you then you will be presented with a hard compromise.
Should I cancel my mortgage payments with Leeds Building Society as soon as a completion date for my home sale in Swanland has been agreed?
You would be well advised to keep meeting any mortgage payments to Leeds Building Society until the mortgage is repaid on completion as part of your Swanland conveyancing.