Would the conveyancing solicitors that you recommend execute attended exchange conveyancing in Winchelsea?
There are a few conveyancing experts who can conduct personalised exchanges. Please e-mail us to get a conveyancing quote and details as to availability.
I own a freehold property in Winchelsea but still charged rent, why is this and what is this?
It is rare for properties in Winchelsea and has limited impact for conveyancing in Winchelsea 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 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 post 2037 is to be extinguished.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Winchelsea. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/1/2021, the requirements read as follows :
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Winchelsea is where the house is located. Can you offer any guidance?
Flying freeholds in Winchelsea are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Winchelsea you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Winchelsea may decide 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 am looking into buying my first house which is in Winchelsea and I am already nervous. I couldn't find anything specific about Winchelsea. Conveyancing will be needed in due course but do you know about the Winchelsea area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Winchelsea. In the meantime here are some basic statistics that we found
What makes a Winchelsea lease problematic?
There is nothing unique about leasehold conveyancing in Winchelsea. Most leases are individual and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I bought a split level flat in Winchelsea, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Winchelsea with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2098
With 77 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.