I have given 8 weeks notice to my existing landlord and must be out of my rented property in Abbeymeads by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in 4 weeks as don't want to have to find short term accommodation?

It is unwise to provide notice on a rental unless exchange of contracts has taken place. If you have not already done so, speak to your lawyer and request that they apply pressure on the owners solicitors, try to get a realistic time scale from them that everyone will work towards

I purchased a freehold property in Abbeymeads but still charged rent, why is this and what is this?

It is rare for properties in Abbeymeads and has limited impact for conveyancing in Abbeymeads 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 new rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

We're in Abbeymeads, FTBs buying with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

I am buying a new build flat in Abbeymeads. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Abbeymeads

The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

I am hoping to exchange soon on a leasehold property in Abbeymeads. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Abbeymeads should include some of the following:

Repair and maintenance of the premises It needs to be made clear to you whether the lease allows you to alter or upgrade anything in the premises- you must know whether it relates to all alterations or just structural alteration, and whether permission is mandated necessary Responsibility for maintaining the window frames Additions to the property You would want to be sent a copy of the lease

Abbeymeads Leasehold Conveyancing - A selection of Queries Prior to buying

Please note that where the lease has no more than 80 years it will impact the marketability of the apartment. It is worth checking with your lender that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and it is worth finding out how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the property for 24 months in order to be eligible to carry out a lease extension. How is the lease structured? How much is the ground rent and service charge?