I purchased a freehold house in Linslade yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Linslade and has limited impact for conveyancing in Linslade 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 establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
A friend suggested that where I am buying in Linslade I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Linslade conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Linslade around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Linslade Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Linslade.
How does conveyancing in Linslade differ for new build properties?
Most buyers of new build or newly converted property in Linslade approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Linslade typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Linslade or who has acted in the same development.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Linslade. I happened to stumble upon a site which looks to be the ideal solution If there is a chance to get all formalities completed via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Estate agents have just been given the go-ahead to market my garden apartment in Linslade. Conveyancing lawyers have not yet been instructed, but I have recently received a quarterly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal as all ground rent and maintenance charges should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
I own a studio flat in Linslade, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Linslade with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2078
With 59 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.