I own a freehold property in New Malden but nevertheless pay rent, why is this and what is this?
It is rare for properties in New Malden and has limited impact for conveyancing in New Malden 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 generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Having spent time researching online forums for a cheap solicitor in New Malden, most advise that I should instruct a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Council of Licensed Conveyancing. New Malden is one of the numerous areas in England and Wales where there are CQS lawyers.
My wife and I are buying a house in New Malden. It might be a silly question but how we can trust a solicitor? At some point we will need to put our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it correct that all New Malden CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved solicitors?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
I have instructed a New Malden property lawyer having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your New Malden postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in New Malden.
I have todaydiscovered that Action Conveyancing have closed. They carried out my conveyancing in New Malden for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The quickest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Malden conveyancing specialists.
Due to the advice of my in-laws I had a survey completed on a house in New Malden prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks will not issue a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Malden. Conveyancing will be smoother if you use a solicitor in New Malden especially if they regularly deal with such properties in New Malden.
Last December I purchased a leasehold house in New Malden. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in New Malden. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Most certainly. We can put you in touch with a New Malden conveyancing firm who can help.
An example of a Lease Extension decision for a New Malden residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.