I purchased a freehold residence in Whaley Bridge but nevertheless pay rent, why is this and what is this?
It is rare for properties in Whaley Bridge and has limited impact for conveyancing in Whaley Bridge 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Should commercial conveyancing searches reveal proposed roadworks that could affect a commercial estate in Whaley Bridge?
Many commercial conveyancing solicitors in Whaley Bridge will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Whaley Bridge. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Whaley Bridge.
For every commercial conveyancing transaction in Whaley Bridge it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Whaley Bridge commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Whaley Bridge.
How does conveyancing in Whaley Bridge differ for newly converted properties?
Most buyers of new build property in Whaley Bridge approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Whaley Bridge tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Whaley Bridge or who has acted in the same development.
I decided to have a survey completed on a property in Whaley Bridge ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks will not grant a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Whaley Bridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Whaley Bridge to see if the conveyancing costs will increase in light of this.
What are my options where I am dissatisfied with the conveyancing practitioner who conducted our conveyancing in Whaley Bridge?
We live in an imperfect world, and is is a fact of life that occasionally things do go wrong. However there is recourse if you were unhappy with your conveyancing in Whaley Bridge. This varies from trying to resolve matters directly with them, through to reporting a conveyancer to their regulator. If you remain dissatisfied you may consider getting in touch with the Legal Ombudsman.