I am the registered owner of a freehold house in Burnham On Crouch but still invoiced for rent, why is this and what is this?
It is rare for properties in Burnham On Crouch and has limited impact for conveyancing in Burnham On Crouch 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 post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
The Burnham On Crouch conveyancing lawyers that just started acting on my purchase in Burnham On Crouch have suddenly shut down. I chose them because I needed a solicitor on the Bank of Ireland conveyancing panel and my preferred Burnham On Crouch lawyer was not. I cut them a cheque for two hundred pounds in advance. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
I have been on the look out for a flat up to £235,500 and found one close by in Burnham On Crouch I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Burnham On Crouch in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. 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 and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am looking to sell my house. My previous solicitors has retired. I am in need of a recommendation of a conveyancing firm. Im based in Burnham On Crouch if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Burnham On Crouch. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am looking at a couple of maisonettes in Burnham On Crouch which have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
Leasehold Conveyancing in Burnham On Crouch - Sample of Questions you should consider Prior to Purchasing
How many of the leaseholders are in arrears for their maintenance charge payments? How much is the ground rent and service charge?