I own a freehold property in Mortlake but still charged rent, why is this and what is this?
It’s unusual for properties in Mortlake and has limited impact for conveyancing in Mortlake 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 creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to use a specialised conveyancing solicitor in Mortlake?
Do check but the chances are that give you one of their panel conveyancers where you take up the "fee-free" incentive. Contact the lender to determine if they allow a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Mortlake.
Have just purchased a probate house at auction in Mortlake. Conveyancing is required. What is next?
Having legally committed yourself to purchase you will need to find a conveyancing practitioner soon as you are facing a tight a drop dead date to complete the transaction. All auction property will ordinarily have a corresponding legal pack. This will include most,if not all of the paperwork that your lawyer will need. If you have purchased leasehold premises the auction pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You should give this to the solicitor instructed by you as soon as possible. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
My partner and I have arranged a further advance on our mortgage from Co-operative as we intend to carry out improvements to our property in Mortlake. Are we obliged to appoint a local Mortlake solicitor on the Co-operative conveyancing panel to handle the legals?
Co-operative do not ordinarily instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
I have paid off my mortgage with Nationwide. I assume I don't need a Mortlake solicitor on the Nationwide panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up as part of conveyancing in Mortlake?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Mortlake. 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…’
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Mortlake I like with amenity areas and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Mortlake for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property 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 existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
What does commercial conveyancing in Mortlake cover?
Mortlake conveyancing for business premises covers a broad array of advice, supplied by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.