I purchased a freehold residence in Lyneham but still invoiced for rent, why is this and what is this?
It is rare for properties in Lyneham and has limited impact for conveyancing in Lyneham 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Just bought a semi-detached house in Lyneham , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Lyneham conveyancing solicitor has been very slow, so I want to be sure that my name is recorded.
There is nothing unique about conveyancing in Lyneham registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd parties. Currently in the region of three quarters of submission are completed within two weeks but occasionally there can be protracted delays. Historically registration occurs after the buyer has moved in to the property so 'speed' is not usually primary concern yet if there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I am purchasing a new build house in Lyneham with the aid of help to buy. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not disclose to my solicitor about the side-deal as it could put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a conveyancing practitioner in Lyneham for my home move. Is it possible to see a firm’s record with the legal regulator?
Anyone can read documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Lyneham. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Lyneham ?
The majority of houses in Lyneham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Lyneham in which case you should be looking for a Lyneham conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.
I invested in buying a ground floor flat in Lyneham, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Lyneham with an extended lease are worth £176,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2098
You have 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.