I own a freehold premises in Bexhill On Sea but still charged rent, why is this and what is this?
It’s unusual for properties in Bexhill On Sea and has limited impact for conveyancing in Bexhill On Sea 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 creation 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 after 2037 will be dispensed with completely.
I am buying a new build flat in Bexhill On Sea. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Bexhill On Sea you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bexhill On Sea.
My wife and I own a renovated Victorian house in Bexhill On Sea. Conveyancing practitioner acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bexhill On Sea and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
If all goes to plan we aim to complete the disposal of our £150,000 garden flat in Bexhill On Sea next week. The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Bexhill On Sea?
Bexhill On Sea conveyancing on leasehold flats more often than not involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are entitled to invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.
Bexhill On Sea Leasehold Conveyancing - Examples of Queries Prior to Purchasing
How much is the ground rent and service charge? Are there any major works in the near future that could add a premium to the service charges? Most Bexhill On Sea leasehold properties will be liable to pay a service bill for the upkeep of the block set by the freeholder. Where you purchase the flat you will have to meet this amount, usually periodically during the year. This may vary from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay yearly, ordinarily this is not a large amount, say about £25-£75 but you need to check it because occasionally it could be many hundreds of pounds.
Your search tool is useful but there are many lawyers listed near Bexhill On Sea being on the lender conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the lender approved panel?
We are not in the business of recommending one firm above another as the right Bexhill On Sea conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Bexhill On Sea knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..