I purchased a freehold house in Pevensey Bay but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Pevensey Bay and has limited impact for conveyancing in Pevensey Bay 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 establishment of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

Should commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Pevensey Bay?

Its becoming the norm that commercial conveyancing solicitors in Pevensey Bay will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Pevensey Bay. The search result provides definitive information 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 Pevensey Bay.

For each commercial conveyancing transaction in Pevensey Bay it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Pevensey Bay commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Pevensey Bay.

I am looking for a ground for flat up to £305k and identified one near me in Pevensey Bay I like with a park and railway links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Pevensey Bay for this price, so just wondered if I would be making a grave error buying a short lease?

If you need a home loan that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.

I am using a search engine for the words on line conveyancing in Pevensey Bay it brings up numerous solicitorsin the vicinity. With so much choice what is the best way to find the suitable solicitor for me?

The preferential way of choosing a suitable conveyancer is through a trusted recommendation, so seek the opinion of colleagues and relatives who have acquired a property in Pevensey Bay or a reputable estate agent or mortgage broker. Charges for conveyancing in Pevensey Bay differ, so it's advisable to obtain at least four costs illustrations from varying types of solicitors. Be sure to seek confirmation that the fees are fixed.

When it comes to leasehold conveyancing in Pevensey Bay what are the most frequent lease defects?

Leasehold conveyancing in Pevensey Bay is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

A duty to insure the building Repairing obligations to or maintain elements of the premises

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

I purchased a ground floor flat in Pevensey Bay, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Pevensey Bay with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2091

With 66 years remaining on your lease we estimate the premium for your lease extension to span between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.