I own a freehold residence in South London but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in South London and has limited impact for conveyancing in South London 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in South London. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Santander will require that you use a conveyancer on the Santander 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 Santander 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 Santander mortgage is registered as a charge at the Land Registry.
How does conveyancing in South London differ for new build properties?
Most buyers of new build property in South London contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in South London usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in South London or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and identified one near me in South London I like with open areas 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 South London for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
How easy is it to swap solicitor as I have to instruct a firm on the Skipton Building Society conveyancing list. I had appointed a local conveyancing solicitor in South London five minutes from me but he is not approved by Skipton Building Society
We will our best to assist in finding you a conveyancing solicitor in South London on the Skipton Building Society panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in South London. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in South London.
In my capacity as executor for the estate of my aunt I am disposing of a house in Newport but live in South London. My solicitor (based 300 miles awayneeds me to execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing solicitor in South London who can attest this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are based in South London