I am the registered owner of a freehold residence in Kingston but still pay rent, why is this and what is this?
It’s unusual for properties in Kingston and has limited impact for conveyancing in Kingston 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 fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Have just purchased a repossessed house at auction in Kingston. Conveyancing is necessary. What are my next steps?
Given that you are now legally committed yourself to purchase you must hire the services of a conveyancing lawyer as a matter of urgency as you now have a fast approaching deadline in which to complete the transaction. An auction property will ordinarily have an associated auction set of papers. This should include most,if not all of the paperwork that your lawyer requires. In the case of leasehold premises the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete on the on the contractual date .
I happen to be the sole beneficiary of my late father’s will and I have everything in my name now, including the my former home in Kingston. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as if I'd bought the house in October. Do I have to wait 6 months to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement is primarily there to identify the purchase and immediately sell or the flipping of property.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Kingston building society branch on a couple of occasions and was informed it wasn't a problem and they would lend. My Kingston conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend based on their published requirements. Who do I believe?
As long as the lawyer is on the mortgage company panel, they must adhere to the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I need some fast conveyancing in Kingston as I have pressure to sign on the dotted line in less than one month. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at liberty not to do searches although no conveyancer would advise that you don't. Drawing on years of experience of conveyancing in Kingston the following are instances of what can appear and therefore affect future saleability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Road Schemes,...
I used Arc property Solicitors a few years past for my conveyancing in Kingston. Now, I need my documents but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Kingston of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Kingston differ for newly converted properties?
Most buyers of new build residence in Kingston contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Kingston usually purchase the land, 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 conveyancers 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 Kingston or who has acted in the same development.
Estate agents have just been given the go-ahead to market my basement flat in Kingston. Conveyancing lawyers have not yet been instructed, but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would as all ground rent and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a split level flat in Kingston, conveyancing having been completed 7 years ago. How much will my lease extension cost? Corresponding properties in Kingston with over 90 years remaining are worth £201,000. The ground rent is £45 per annum. The lease finishes on 21st October 2088
With just 64 years unexpired we estimate the price of your lease extension to be between £15,200 and £17,600 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.