I own a freehold house in Frenchay yet charged rent, why is this and what is this?
It is rare for properties in Frenchay and has limited impact for conveyancing in Frenchay 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Frenchay and how can you help?
The particular law that you refer to affords security of tenure to business lessees, granting the a statutory right to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Frenchay
My father has encouraged me to instruct his conveyancing solicitors in Frenchay. Should I choose my own conveyancer?
No doubt the best way to select a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the solicitor that you are are thinking of instructing.
I have just appointed agents to market my 2 bed flat in Frenchay. Conveyancing solicitors are to be appointed soon, but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal as all rents and maintenance payments will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a split level flat in Frenchay, conveyancing was carried out February 1998. How much will my lease extension cost? Comparable flats in Frenchay with a long lease are worth £216,000. The ground rent is £50 per annum. The lease ceases on 21st October 2088
With 69 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Our sealed bid on property in Frenchay has been accepted, the seller does nevertheless have a tied purchase. The vendors have offered on a property, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a local conveyancing solicitor in Frenchay. What should be my next step? When do I get the mortgage application with Co-operative started with Co-operative?
It is standard to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Frenchay conveyancing search costs, etc). First, you should check that your conveyancing practitioner is on the Co-operative approved list. Regarding the subsequent stages this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. During a buoyant market some buyers would apply for the mortgage with Co-operative and pay for the survey and only if it was satisfactory would they request their conveyancing practitioner to move forward with searches.