I purchased a freehold house in Newton Abbot but still charged rent, why is this and what is this?
It’s unusual for properties in Newton Abbot and has limited impact for conveyancing in Newton Abbot 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 establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I am assisting my mother sell her flat in Newton Abbot. Does the conveyancing solicitor arrange the energy performance certificate or it is for me to coordinate?
Following the demise of Home Packs, EPC’s remained a required component of moving house. An EPC should be commissioned prior to the property being marketed. It is not something that solicitors ordinarily arrange. If you are instructing a Newton Abbot conveyancing practitioner they might be able to arrange EPC’s due to their relationships with long established Newton Abbot providers
We had instructed solicitors with offices in Newton Abbot on the HSBC solicitor approved list. They have just billed me an additional fee for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. This fee is not set by HSBC but by your Newton Abbot solicitor. Some firms on the HSBC panel will charge an ‘acting for lender’ fee but some practices include it on their overall fee.
After what seems like an age I have had an offer on an apartment in Newton Abbot accepted, the vendors do however have a dependent purchase. The vendors have put an offer on a flat, but it’s not yet tied up, and are looking at other flats in the pipeline. I have selected a nearby conveyancing solicitor in Newton Abbot. What should be my next step? When do I get the mortgage application with Bank of Ireland started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx one thousand pounds, then valuation, Newton Abbot conveyancing search charges, etc). First, you should check that your lawyer is on the Bank of Ireland conveyancing panel. As to the subsequent phase this very much dictated by the circumstances of your transaction, attraction to the property and on the state of the market. In a rising market some purchasers would apply for a home loan with Bank of Ireland and arrange for the valuation and only if it comes back ok would they pay their lawyer to press on with the conveyancing in Newton Abbot.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Newton Abbot. Conveyancing is necessary evil 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 legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Newton Abbot
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Newton Abbot I like with a park and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Newton Abbot suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I need to appoint a conveyancing solicitor for my conveyancing in Newton Abbot. I happened to land on a web site which seems to have the perfect answer If there is a chance to get all this stuff done via web that would be ideal. Should I be wary? What are the potential pitfalls?
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?