I am the registered owner of a freehold house in Sidcup but still invoiced for rent, why is this and what is this?
It is rare for properties in Sidcup and has limited impact for conveyancing in Sidcup 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 creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a house in Sidcup? or I am told that there is historic law that could mean that house owners living in a parish church boundary will be compelled to pay for repairs towards the chancel in proximity to the church. Is this suitable for conveyancing in Sidcup?
Unless a previous purchase of the property took place after 12 October 2013 you may expect solicitors conducting conveyancing in Sidcup to continue to recommend a chancel search and or chancel repair liability insurance.
The estate agent has sent us the confirmation of our purchase of a new build flat in Sidcup. Conveyancing is necessary evil 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.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Sidcup
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
I am looking for a ground for flat up to £305k and found one round the corner in Sidcup I like with a park and transport links in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Sidcup for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I need to instruct a conveyancing solicitor for freehold conveyancing in Sidcup. I have discover a web site which seems to have the ideal solution If there is a chance to get all formalities done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Sidcup conveyancing firm to assist?
You certainly can. We can put you in touch with a Sidcup conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Sidcup property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
Are there common problems that you see in leases for Sidcup properties?
There is nothing unique about leasehold conveyancing in Sidcup. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
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Repairing obligations to or maintain elements of the building
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.