I am in the market for a low cost property lawyer. Should I go for for an internet conveyancer rather than a local Banstead conveyancing solicitor?
On the whole conveyancing practitioners in your location will have strong connections with your local authority, which could assist with the Banstead conveyancing searches that your conveyancer will need to carry out. It also helps if they enjoy good relationships with the Local Land Registry Office your area Banstead, other property lawyers in the area and Banstead Estate Agents.
I am the registered owner of a freehold property in Banstead but still charged rent, why is this and what is this?
It’s unusual for properties in Banstead and has limited impact for conveyancing in Banstead 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am selling my home in Banstead. Does my conveyancing practitioner have to be on the Nationwide conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
My friend suggested that if I am purchasing in Banstead I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Banstead conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Banstead around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Banstead Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Banstead.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Banstead is the location of the property. Is there any advice you can give?
Flying freeholds in Banstead are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Banstead you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Banstead may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Last May I purchased a leasehold flat in Banstead. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a two-bedroom flat in Banstead. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to judgment on the price payable.
An example of a Lease Extension decision for a Banstead property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The unexpired term as at the valuation date was 60.43 years.