I purchased a freehold residence in Onslow Village yet invoiced for rent, why is this and what is this?

It’s unusual for properties in Onslow Village and has limited impact for conveyancing in Onslow Village 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 many centuries, but the Rent Charge Act 1977 barred the establishment 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 post 2037 is to be dispensed with completely.

Will my solicitor be making enquiries regarding flooding as part of the conveyancing in Onslow Village.

Flooding is a growing risk for solicitors conducting conveyancing in Onslow Village. Some people will acquire a property in Onslow Village, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not qualified to offer advice on flood risk, however there are a numerous checks that can be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Onslow Village. The conventional set of information sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out whether the property has ever been flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer may commence a compensation claim stemming from an misleading answer. The purchaser’s conveyancers will also order an environmental search. This will indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.

Are there any apps to help search for a Onslow Village law firm on the The Royal Bank of Scotland conveyancing panel? I have a car and am happy to travel upto 25kilometers to meet the conveyancer.

You can use the search on this page. Please choose the lender and your location and you will see a number of Onslow Village conveyancing lawyers locally. We have listed some Onslow Village conveyancing firms towards the end of this page and you can contact them to see whether they are on the The Royal Bank of Scotland member panel

We're first time buyers - agreed a price, but the agent advised that the owners will only go ahead if we use their preferred solicitors as they are insisting on a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Onslow Village

We suspect that the owner is not behind this requirement. If they desire ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Contact the vendors directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Onslow Village conveyancing solicitors - not the ones that will provide their negotiator at the agency a kickback or hit his conveyancing targets pre-set by corporate headquarters.

I am a negotiator for a long established estate agent office in Onslow Village where we have witnessed a number of leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Onslow Village conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I am the registered owner of a basement flat in Onslow Village, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable flats in Onslow Village with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2075

You have 50 years unexpired we estimate the price of your lease extension to span between £32,300 and £37,400 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.