I own a freehold property in Eastney and Southsea yet pay rent, why is this and what is this?
It is rare for properties in Eastney and Southsea and has limited impact for conveyancing in Eastney and Southsea 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 post 1977.
Old 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.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Eastney and Southsea?
There are many registered licenced Conveyancers in Eastney and Southsea and Solicitor firms in Eastney and Southsea who can help with your conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We have agreed to purchase a house in Eastney and Southsea. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
As you are obtaining a mortgage with UBS your lawyer must comply with the formal requirements set out in Part two of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to UBS where a lease does not meet these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not isolated to Eastney and Southsea.
It is not clear whether my bank requires a lease extension. I have called into my local Eastney and Southsea building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Eastney and Southsea conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the lawyer is on the lender approved list, they must adhere to the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
We are buying a house and the conveyancer has referenced Chancel Repair for which the house may be obligated to contribute to as it falls into the area of such a church. He has suggested insurance. Is this really required for conveyancing in Eastney and Southsea
Unless a prior purchase of the property completed after 12 October 2013 you could expect lawyers delivering conveyancing in Eastney and Southsea to remain recommending a chancel search and or insurance against a claim.
How does conveyancing in Eastney and Southsea differ for newly converted properties?
Most buyers of new build residence in Eastney and Southsea approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because new home sellers in Eastney and Southsea usually purchase the land, 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 used to new build conveyancing in Eastney and Southsea or who has acted in the same development.
How does the Landlord & Tenant Act 1954 impact my commercial property in Eastney and Southsea and how can you help?
The particular law that you refer to provides a safeguard to commercial leaseholders, giving them the legal entitlement to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Eastney and Southsea is one of our numerous locations in which our lawyers are based