I am the registered owner of a freehold premises in Eaton Bray but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Eaton Bray and has limited impact for conveyancing in Eaton Bray 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 creation of fresh 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 extinguished.

I'm purchasing a new build house in Eaton Bray with a mortgage from Aldermore. The sellers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep advised me not to tell my solicitor about this side-deal as it could put at risk my loan with the bank. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

In what way can the Landlord & Tenant Act 1954 impact my commercial premises in Eaton Bray and how can your lawyers assist?

The particular law that you refer to affords protection to commercial lessees, giving them the right to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Eaton Bray

Can you provide any advice for leasehold conveyancing in Eaton Bray from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Eaton Bray can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Eaton Bray leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such changes. Where you dont have the consents to hand you should not communicate with the landlord without checking with your solicitor in advance. The majority of landlords or Management Companies in Eaton Bray charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Eaton Bray. Some Eaton Bray leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I invested in buying a garden flat in Eaton Bray, conveyancing having been completed in 1995. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Eaton Bray with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2090

With 64 years unexpired the likely cost is going to range between £14,300 and £16,400 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

If instructed can a conveyancer remove a name from the title of my property in Eaton Bray ?

Extracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner