I am due to complete on the purchase of a property in Old Coulsdon but as a result of wreckage from some water damage at the property I have managed to agree reparation from the vendor in the sum of six thousand pounds taking the form of a deduction in the price. I had intended this to be addressed as part of a side agreement yet Skipton are not allowing this. Why were they involved?
Any conveyancing practitioner that is on a Skipton conveyancing panel is obliged to inform Skipton of any amendments to the sale price. If you prohibit your conveyancer to disclose the reduction to Skipton then they would have to discontinue acting for you. In addition, Skipton and you would have to appoint a new solicitor for your conveyancing in Old Coulsdon.
I purchased a freehold property in Old Coulsdon but nevertheless invoiced for rent, why is this and what is this?
It’s unusual 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 many centuries, but the Rent Charge Act 1977 barred the establishment 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 post 2037 will be extinguished.
I had intended to instruct a property lawyer in Old Coulsdon for our home move. Our broker informed us that our bank Barclays Direct won't deal with them. Why is this not regarded as unfair competition?
A mortgage company may insist on an approved conveyancer act for it. Borrowers are liable to bear the charges for this. Try using our database to locate a solicitor to conduct conveyancing in Old Coulsdon on the Barclays Direct approved list of solicitors.
Should my conveyancer be asking questions regarding flooding as part of the conveyancing in Old Coulsdon.
The risk of flooding is if increasing concern for lawyers dealing with homes in Old Coulsdon. There are those who acquire a house in Old Coulsdon, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a number of checks that may be undertaken by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Old Coulsdon. The standard property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to determine if the premises has suffered from flooding. If flooding has previously occurred which is not notified by the owner, then a purchaser could commence a claim for damages stemming from an inaccurate response. The buyer’s solicitors will also commission an enviro search. This should higlight whether there is any known flood risk. If so, further inquiries will need to be initiated.
I am looking for a ground for flat up to £245,000 and identified one round the corner in Old Coulsdon I like with open areas and station in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Old Coulsdon suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
All being well we will complete our sale of a £150,000 maisonette in Old Coulsdon next week. The landlords agents has quoted £336 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Old Coulsdon?
Old Coulsdon conveyancing on leasehold apartments more often than not involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to do so. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the leaseholder of a two-bedroom flat in Old Coulsdon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to calculate the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Coulsdon residence 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 was in relation to 3 flats. The number of years remaining on the existing lease(s) was 75 years.