I own a freehold premises in Becontree but still charged rent, why is this and what is this?
It is rare for properties in Becontree and has limited impact for conveyancing in Becontree 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Is there a search tool that I can use to investigate if the solicitor carrying out my conveyancing in Becontree is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus spending £175.00 in additional legal bill.
Please do take advantage of the find a conveyancing panel solicitor tool on this page. Please choose the lender and type ‘Becontree’ or your location and you will see numerous solicitors located in Becontree or near you.
My wife and I are buying a house in Becontree. It might be a silly question but how we can trust a conveyancer? On completion day we will need to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Becontree. Do I receive the keys to the house on the completion date from my conveyancer? If so, I will use a High Street conveyancing solicitor in Becontree?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's solicitors, and once they have received this, you will be called to collect the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
I'm in the throws of viewing flats in Becontree and I am about to put in an offer. Is it wise to have a lawyer on ‘stand by’? I am planning to take a mortgage with Kent Reliance.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are obtaining a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
I have justbeen informed that Stirling Law have been shut down. They carried out my conveyancing in Becontree for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Becontree conveyancing specialists.
I am looking for a leasehold apartment up to £195,000 and identified one close by in Becontree I like with amenity areas and station in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Becontree in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Last April I purchased a leasehold house in Becontree. 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 owner and they have not paid you would not usually be personally liable for the arrears. However, 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).
My wife and I have hit a brick wall in trying to purchase the freehold in Becontree. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a Becontree property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The remaining number of years on the lease was 61.36 years.