I am the registered owner of a freehold property in Old Malden but still charged rent, why is this and what is this?
It is rare for properties in Old Malden and has limited impact for conveyancing in Old 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 date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
We are planning to move property in May. Will my conveyancing solicitor update the removal company on the day of completion. As an aside, can you suggest a removal company in Old Malden. Conveyancing firm was found before I stumbled across your site.
On the day of completion you will need to pick up the house keys from your selling agent but this should only happen when the vendors solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. After that you can tell the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal organisation but can help you choose a conveyancing in Old Malden or a lawyer with expertise in conveyancing in Old Malden.
My solicitor has informed me that lack of building regulations insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Old Malden?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Coventry Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
We have agreed to purchase a house in Old Malden. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Barclays your lawyer must check the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Barclays where a lease does not comply with these specifications. The specifications relate to the installation of panels on properties nationwide and is not restricted to Old Malden.
What does a local search inform me regarding the house my wife and I buying in Old Malden?
Old Malden conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search plays a central part in most Old Malden conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
Are there restrictive covenants that are commonly identified during conveyancing in Old Malden?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Old Malden. 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…’
Am I right to be wary by third parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a High Street Old Malden conveyancing firm?
As is the case with lots of service providers, often input from family and friends can be very helpful. But there are many players in a conveyancing transaction; estate agents, mortgage brokers and banks may suggest lawyers to retain. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are at liberty to select your preferred lawyer. However, bear in mind that the majority of banks have an approved list of solicitors you are obliged to use for the mortgage related work in your conveyancing.
Do you have any advice for leasehold conveyancing in Old Malden from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Old Malden can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a replacement share certificate can be a time consuming process and frustrates many a Old Malden conveyancing transaction. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
I am the leaseholder of a ground floor flat in Old Malden. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Lease Extension case for a Old Malden property 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.