I am the registered owner of a freehold house in Nine Elms yet pay rent, why is this and what is this?
It is rare for properties in Nine Elms and has limited impact for conveyancing in Nine Elms 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 post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am assisting my sister sell her flat in Nine Elms. Will the solicitor arrange the energy assessment or should I organise this?
Following the demise of HIPs, EPC’s was left as a required element of moving house. An EPC needs to be to hand prior to the property being marketed. This is not as aspect of the sale process that conveyancers ordinarily organise. If you are instructing a Nine Elms conveyancing practitioner they may help arrange energy assessments due to their relationships with long established Nine Elms providers
I am buying a victorian detached house in Nine Elms. The intention is to convert the garage to an office at the house.Will legal investigations on the property involve enquiries to ascertain if these alterations were previously refused?
Your property lawyer should review the registered title as conveyancing in Nine Elms can occasionally reveal restrictions in the title deeds which prohibit certain alterations or require the consent of a 3rd party. Many extensions need local authority planning permissions and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I currently have a mortgage with Kent Reliance for my property in Nine Elms. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
My wife and I have a semi-detached Edwardian property in Nine Elms. Conveyancing lawyer represented me and Bank of Ireland. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the matching property. Is it worth asking Bank of Ireland to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Nine Elms and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing solicitor who conducted the conveyancing.
I am buying a new build apartment in Nine Elms. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Nine Elms
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the encouragement of my in-laws I had a survey completed on a house in Nine Elms ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some lenders tend refuse to issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Nine Elms. Conveyancing will be smoother if you use a solicitor in Nine Elms especially if they are acquainted with such properties in Nine Elms.
Me and my wife accepted an offer on a Nine Elms flat we inherited ten years ago in 2009. I have over a decades worth of conveyancing knowledge and, now retired, intend to do the conveyancing. The purchaser's property lawyer has informed me that their Lenders will not allow you to do your own conveyancing requiring the funds to be released via a solicitor's bank account.
Mortgage requirements to lawyers from all mainstream lenders specify that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be notified so that a decision can be reached if they are prepared to move forward.