I am the registered owner of a freehold residence in Rainhill yet charged rent, why is this and what is this?
It’s unusual for properties in Rainhill and has limited impact for conveyancing in Rainhill 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous 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 dispensed with completely.
Are there restrictive covenants that are commonly identified as part of conveyancing in Rainhill?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Rainhill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it possible to transfer to a new conveyancer as I need to find one who is on the The Royal Bank of Scotland conveyancing panel. I instructed a high street conveyancing solicitor in Rainhill round the corner but he is not accepted by The Royal Bank of Scotland
It would be our pleasure to help you find a conveyancing solicitor in Rainhill on the The Royal Bank of Scotland panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Rainhill. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Rainhill.
My husband and I are new on the property ladder - had an offer accepted, but the property agent informed us that the owners will only issue a contract if we use the agent's recommended solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor who is accustomed to conveyancing in Rainhill
It is unlikely the vendors are behind this. Should the vendor require ‘a quick sale', alienating a serious buyer is counter productive. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you wish to move quickly (e)however you intend to instruct your own,trusted Rainhill conveyancing solicitors - as opposed tothose that will earn their negotiator at the agency a commission or hit his conveyancing figures demanded by head office.
I am tempted by the attractive purchase price for a two flats in Rainhill which have in the region of fifty years remaining on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field.
Rainhill Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
Make sure you enquire if there are any onerous prohibitions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Rainhill. If you like the flatin Rainhill yet your dog is not allowed to move with you then you have a very difficult decision. Are any of leasehold owners in dispute over their service charge payments? In the main the cost for major works are not incorporated into the maintenance charges, albeit that some managing agents in Rainhill require leaseholders to pay into a reserve fund and this is used to offset against larger works.