I own a freehold house in King's Cross but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in King's Cross and has limited impact for conveyancing in King's Cross 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 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 after 2037 will be extinguished.
We are planning to purchase with Darlington Building Society. We have called around locally but cant to find a King's Cross conveyancing firm on the Darlington Building Society panel. Please you help?
You should take advantage of the search tool on this page. Please choose the lender and type King's Cross or your location and you will see a number of lawyer located in King's Cross or by proximity to you.
Are there restrictive covenants that are commonly picked up as part of conveyancing in King's Cross?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in King's Cross. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in King's Cross differ for new build properties?
Most buyers of new build residence in King's Cross come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because developers in King's Cross typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in King's Cross or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and found one near me in King's Cross I like with a park and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in King's Cross for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I'm refinancing my current home to a buy to let mortgage with Bank of Ireland and intend to use the remaining equity as a down payment on another house. The location we are talking about is King's Cross. Will your conveyancers be able to act for both sets of banks and tie in the conveyances?
Do use our search tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are your conveyancer will be able to tie up the two transactions but you should talk with you lawyer and communicate your expectations and requirements.