I purchased a freehold house in Trefnant but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Trefnant and has limited impact for conveyancing in Trefnant 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
2 months have gone by since my purchase conveyancing in Trefnant completed. I have checked the Land Registry site which shows that I paid £150,000 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 residence 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.
Just had an offer accepted on a new build flat in Trefnant. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Trefnant
Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. There must be mutual enforceability of lessee’s covenants.
My husband and I are FTB’s - agreed a price, but the estate agent advised that the seller will only issue a contract if we use the agent's chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Trefnant
It is highly unlikely the vendors are driving this. If they require ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Try to communicate with the owners directly and explain that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your preferred Trefnant conveyancing solicitors - as opposed tothe ones that will provide their negotiator at the agency a kickback or hit his conveyancing thresholds demanded by senior management.
Can you offer any advice when it comes to appointing a Trefnant conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Trefnant conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Trefnant conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
Can they put you in touch with clients in Trefnant who can give a testimonial? If they are not ALEP accredited then what is the reason?
I invested in buying a leasehold flat in Trefnant, conveyancing was carried out in 2000. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Trefnant with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2080
With just 60 years left to run the likely cost is going to span between £20,000 and £23,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.