I own a freehold house in Saltdean but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Saltdean and has limited impact for conveyancing in Saltdean 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 generation of fresh rentcharges from 1977 onwards.
Previous 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.
What will a local search reveal regarding the house we're buying in Saltdean?
Saltdean conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company such as PSG The local search plays a central role in most Saltdean conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
four months have elapsed following my purchase conveyancing in Saltdean took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How can the Landlord & Tenant Act 1954 impact my commercial property in Saltdean and how can your lawyers assist?
The 1954 Act affords security of tenure to business leaseholders, granting the dueness to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Saltdean
Sixweeks into buying a residence in Saltdean. Conveyancing lawyer has told us the property is "Leasehold". Should this adversely affect our home loan valuation?
Saltdean conveyancing does not in most situations involve leasehold houses. The main factor here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's almost the same as freehold, so it’s unlikely to affect the marketability significantly.
At the other end of the spectrum, if it's, say, fifty five years it will have a adverse impact on the value, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease provided to your .