I purchased a freehold premises in Old Coulsdon yet pay rent, why is this and what is this?
It is rare for properties in Old Coulsdon and has limited impact for conveyancing in Old Coulsdon 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 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 post 2037 is to be dispensed with completely.
My aunt passed away six months ago and as sole heir and executor I was left the house in Old Coulsdon. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then RBS will require that you use a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
I have been told that property searches are a common reason for stalling in Old Coulsdon house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Old Coulsdon.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Old Coulsdon is the location of the property. Can you offer any guidance?
Flying freeholds in Old Coulsdon are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Old Coulsdon you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Old Coulsdon may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I’m about to sell my 2 bed apartment in Old Coulsdon. Conveyancing has not commenced, but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would given that all ground rent and service payments will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Old Coulsdon conveyancing firm to represent me?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Freehold Enfranchisement case for a Old Coulsdon flat is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The unexpired residue of the current lease was 75 years.
How do I find the right lawyer for my conveyancing in Old Coulsdon ?
Option 1 is to ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to search the web for conveyancing in Old Coulsdon. Phone two or three from the list and ask them to send you their conveyancing fees and discuss your needs with the solicitor who will handle your conveyancing before you make your decision. Option 3 is to use our search tool to help you find the right solicitors taking into account your unique requirements including location,speed, complexity and who the proposed lender is.Do not be fooled by £99 conveyancing solicitors in Old Coulsdon