The mortgage agreement from Santander for the refinancing of my 3 room apartment is due any day now. Are you able to suggest a low cost conveyancing law firm in Hebden Bridge?

You have arrived at the wrong place to search for a cheap conveyancing in Hebden Bridge. We can offer you cost effective conveyancing but we do not aim to advertise as being the cheapest. Do not be swayed by companies enticing you with ninety nine pound conveyancing in Hebden Bridge. In your best case scenario, in deciding on cheap conveyancing, you will get your money’s worth and at worst you will end up invoiced for extras and still not end up with the service you were hoping for.

I own a freehold premises in Hebden Bridge but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Hebden Bridge and has limited impact for conveyancing in Hebden Bridge 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 from 1977 onwards.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

Do I have to visit the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Hebden Bridge so that I can pop in to their offices when needed.

Most conveyancing panel lawyers for mortgage companies carry out all of the communications via the post, internet or over phone calls. This means that they can undertake the conveyancing transaction no matter where you live in the country. However you can see if you can still book an appointment to visit conveyancing lawyer if you prefer.

Just had an offer accepted on a new build apartment in Hebden Bridge. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hebden Bridge

Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.

I am tempted by the attractive purchase price for a two maisonettes in Hebden Bridge which have in the region of forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Hebden Bridge is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hebden Bridge conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I acquired a 1 bedroom flat in Hebden Bridge, conveyancing was carried out 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Hebden Bridge with a long lease are worth £195,000. The ground rent is £45 per annum. The lease finishes on 21st October 2089

You have 63 years left to run the likely cost is going to range between £16,200 and £18,600 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.