I own a freehold residence in Trefriw yet charged rent, why is this and what is this?
It is rare for properties in Trefriw and has limited impact for conveyancing in Trefriw 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 new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I am buying a property and the lawyer has referenced Chancel Repair to which the property could be liable given it’s proximity to the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Trefriw
Unless a previous purchase of the house took place after 12 October 2013 you could assume that solicitors carrying out conveyancing in Trefriw to continue to suggest a chancel search and or chancel repair liability policy.
I need to instruct a conveyancing solicitor for residential conveyancing in Trefriw. I happened to land on a web site which seems to have the perfect offering If there is a chance to get all the legals done via email that would be preferable. Do I need to be concerned? 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?
Last June I purchased a leasehold property in Trefriw. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 1st floor flat in Trefriw, conveyancing formalities finalised in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Trefriw with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2086
With just 64 years unexpired the likely cost is going to span between £14,300 and £16,400 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
Are you able recommend a good conveyancer to do the purchase of a flat in Trefriw. With any luck we will purchase the flat for £240000 with a mortgage from RBS. We live in Trefriw but dont require the solicitors to be based in Trefriw.
The purpose of this site is restricted to being a directory service for conveyancing practitioners who wish to be listed as being on the approved conveyancing panel for RBS in certain areas such as Trefriw . Our intention is not to recommend any specific property lawyer.