I am the registered owner of a freehold property in East London but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in East London and has limited impact for conveyancing in East London 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 generation 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 in 2037 is to be dispensed with completely.
I am helping my step-mother sell her flat in East London. Will the conveyancing solicitor commission an energy performance certificate or should I organise this?
After the abolition of Home Information Packs, EPC’s was left as a compulsory element of selling a house. An energy assessment needs to be to hand in advance of the property being put on the market. It is not something that law firms ordinarily organise. If you are instructing a East London conveyancing solicitor they may help arrange energy assessments due to their contacts with reputable East London energy assessors
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a East London lawyer on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
At last I have had an offer on a flat in East London accepted, the sellers do nevertheless have a connected purchase. The owners have offered on on an apartment, however it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in East London. What do I do now? When do I get the mortgage application with Skipton started?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx one thousand pounds, then valuation, East London conveyancing search fees, etc). First, you should ensure that your property lawyer is on the Skipton approved list. Regarding the next steps this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. During a buoyant market the majority of purchasers will apply for a home loan with Skipton and arrange for the valuation and only if it was satisfactory would they request their solicitor to move forward with searches.
I am selling our property in East London and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed an online conveyancing outfit rather than a conveyancing solicitor in East London. Having lived in East London for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in East London I like with amenity areas and railway links nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in East London suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
My step-father has suggested that I appoint his lawyers for conveyancing in East London. Do I take his recommendation?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to get guidance from friends or relatives who have used the solicitor that you are are thinking of instructing.
Harry (my fiance) and I may need to sub-let our East London basement flat temporarily due to a career opportunity. We instructed a East London conveyancing practice in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Even though your last East London conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must obtain consent from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior consent. The consent must not not be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord for their consent.
I have given up trying to purchase the freehold in East London. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or where 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 sum to be paid.
An example of a Freehold Enfranchisement case for a East London residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The number of years remaining on the existing lease(s) was 73.26 years.