We were just about to sign contracts for a semi detached house in Coulsdon. We encountered a stumbling block. The mortgage offer with Accord Mortgages Ltd expires on 10/7/2025 but the owners are insisting on a completion date of 14/7/2025. Is it possible to prolong the loan offer?
The person best placed to address this question is your lawyer who will calculate whether he or she is better off negotiating with the mortgage company, seller’s representatives, estate agents or conceivably all three based on what has happend in your house move as of today.
I own a freehold house in Coulsdon but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Coulsdon and has limited impact for conveyancing in Coulsdon 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.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
A friend suggested that if I am buying in Coulsdon I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Coulsdon conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Coulsdon around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Coulsdon Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Coulsdon Education with maps and statistics, Local Amenities and other useful data regarding Coulsdon.
Due to the encouragement of my in-laws I had a survey completed on a property in Coulsdon in advance of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some banks may refuse to give a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Coulsdon. Conveyancing will be smoother if you use a solicitor in Coulsdon especially if they regularly deal with such properties in Coulsdon.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Coulsdon and how can you help?
The 1954 Act gives security of tenure to commercial leaseholders, granting the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Coulsdon is one of our hundreds of areas of the UK in which our lawyers have offices
Am I better off to use a Coulsdon conveyancing solicitor who is local to the property I am purchasing? We have a good friend who can deal with the conveyancing however his firm is located 200miles away.
The benefit of a local Coulsdon conveyancing firm is that you can visit the firm to sign paperwork, deliver your ID and pester them where appropriate. Having local Coulsdon know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and they were content that should trump using an unfamiliar Coulsdon conveyancing lawyer solely due to them being local.