I own a freehold house in Bexhill yet invoiced for rent, why is this and what is this?
It is rare for properties in Bexhill and has limited impact for conveyancing in Bexhill 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 generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I had intended to instruct a property lawyer in Bexhill for our home move. Our broker informed us that our bank Aldermore won't deal with them. Why is this not regarded as unfair competition?
Lenders in the main imposes restrictions either the type or the number of conveyancing firms on their panel. A common example of such criteria being that a law practice must not be a sole practitioner. As well as restricting the profile of firm, some have reduced the amount of firms they allow to act for them. Be aware that Aldermore have no responsibility for the quality of advice provided by any member of Aldermore Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago even though there are differing views concerning the extent of solicitor engagement in some of that fraud. Data from the Land Registry indicate that hundreds of law firms, including some in or near Bexhill only carry out very few conveyances per annum.
What will a local search reveal regarding the property my wife and I purchasing in Bexhill?
Bexhill conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Bexhill conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Are there restrictive covenants that are commonly identified as part of conveyancing in Bexhill?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bexhill. 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…’
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Bexhill I like with a park and transport links in the vicinity, however it's only got 49 years on the lease. There is not much else in Bexhill in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.