I own a freehold residence in Beckermet yet invoiced for rent, why is this and what is this?
It is rare for properties in Beckermet and has limited impact for conveyancing in Beckermet 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 establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Are there restrictive covenants that are commonly identified during conveyancing in Beckermet?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Beckermet. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Beckermet. 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Beckermet
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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 evidence that the form of Lease proposed has been approved by the Land Registry.
We are 14 days into a freehold purchase having been recommend to solicitors by the local agent to perform conveyancing in Beckermet. I am not happy. Can you you assist me in finding new solicitors?
A solicitor would need to be very bad to suggest replacing them. Has your loan offer been sent? In the event that it has you need to inform them of the replacement conveyancer and get the loan are issued to the new lawyers. The solicitor ideally should be on the banks panel to avoid escalating fees and delays. So that should be your first question of the new conveyancers. The search tool will help you find a lender approved solicitor for your home move in Beckermet
Last April I purchased a leasehold property in Beckermet. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a garden flat in Beckermet, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Beckermet with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2095
You have 74 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.