I purchased a freehold premises in Builth Wells yet charged rent, why is this and what is this?
It’s unusual for properties in Builth Wells and has limited impact for conveyancing in Builth Wells 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh 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 extinguished.
I am planning on selling our home in Builth Wells and according to the buyers it appears that there is a risk of it being built on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the buyers are using a web based conveyancing practice as opposed to a conveyancing solicitor in Builth Wells. We have lived in Builth Wells for three years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Due to the advice of my in-laws I had a survey completed on a property in Builth Wells before appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may not issue a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Builth Wells. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Builth Wells to see if the conveyancing costs will increase in light of this.
I am a sole trader wishing to lease a unit on the high street. Can you recommend lawyers offering no-sale-no costs for non-domestic conveyancing in Builth Wells for less than £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Builth Wells, including the sale and purchase of businesses as well as simply premises. Whether you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right lawyer. As for the costs this will depend on the structure and heads of terms of the deal. Let us have your contact information or email so as to enable us to provide you with comprehensive commercial conveyancing quote.
I own a leasehold house in Builth Wells. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Builth Wells who acted for me is not around. What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Builth Wells conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Builth Wells Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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