I purchased a freehold premises in Flint but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Flint and has limited impact for conveyancing in Flint 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 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 after 2037 will be extinguished.
How does conveyancing in Flint differ for new build properties?
Most buyers of new build or newly converted property in Flint contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Flint tend to buy 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 conveyancing solicitors 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 Flint or who has acted in the same development.
How simple is it to use your search app to select a conveyancing solicitor in Flint on the panel for my mortgage?
Step one is to choose a bank such as Santander, Virgin Money or Aldermore then type in your location for instance Flint. Conveyancing firms in Flint and across England and Wales will then be shown.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Flint. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Flint ?
The majority of houses in Flint are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Flint in which case you should be shopping around for a Flint conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
Leasehold Conveyancing in Flint - Sample of Queries Prior to buying
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The majority of Flint leasehold properties will be liable to pay a service bill for maintenance of the building invoiced on behalf of the landlord. If you purchase the apartment you will have to pay this charge, usually in instalments throughout the year. This can be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a ground rent to be met annual, ordinarily this is not a exorbitant sum, say approximately £50-£100 but you need to enquire as occasionally it can be prohibitively expensive. What is the yearly service fee and ground rent?
Me and myhusband and I are in the market for an affordable conveyancing lawyer in Flint to help me sell my place. I I am fearful of appointing the wrong one but with lots of Flint conveyancing practices out there...how do I know which one is best to select?
To get quotes for your move from the conveyancing firms that offers services in Flint please make the most of our quote tool.