I am the registered owner of a freehold residence in Towcester but nevertheless charged rent, why is this and what is this?
It is rare for properties in Towcester and has limited impact for conveyancing in Towcester 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 redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Me and my partner are purchasing a property in Towcester. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I can see plenty of here regarding conveyancing in Towcester but can you isolate your top tip for selecting the right conveyancer in Towcester
Do not opt for the lowest Towcester conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have a mortgage with Kent Reliance for my property in Towcester. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel firm.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Towcester is the location of the property. Can you offer any advice?
Flying freeholds in Towcester are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Towcester you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Towcester may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to retain a conveyancing solicitor for leasehold conveyancing in Towcester. I've discover a site which appears to be the ideal offering If it is possible to get all formalities completed via web that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I would like to sublet my leasehold flat in Towcester. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Towcester conveyancing lawyer is no longer available you can check your lease to see if you are permitted to let out the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to seek consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining consent. The consent must not not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I bought a leasehold flat in Towcester, conveyancing was carried out in 2002. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Towcester with an extended lease are worth £181,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2075
With just 51 years unexpired the likely cost is going to range between £30,400 and £35,200 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 cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
Why is New Build conveyancing in Towcester more expensive?
Purchasing a new build home is completely different from the standard house purchase conveyancing in Towcester. For a start developers ordinarily insist contracts to exchange within a tight deadline, the result being a a great deal of pressure on your conveyancer to ensure everything is in order. Furthermore new build properties frequently involve examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Bank obligations are also more demanding. Due to the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.