I am getting a mortgage with Lloyds. I intend to enlist the help of a Licensed Conveyancer in Spitalfields. Does the Lloyds Solicitor panel allow for Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I purchased a freehold house in Spitalfields yet pay rent, why is this and what is this?
It is rare for properties in Spitalfields and has limited impact for conveyancing in Spitalfields 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 generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
A colleague recommended that if I am buying in Spitalfields I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Spitalfields conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Spitalfields around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Spitalfields Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Spitalfields.
Just had an offer accepted on a new build apartment in Spitalfields. 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 legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Spitalfields
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There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Spitalfields I like with open areas and station nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Spitalfields in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the shortness of the lease may be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Given that I will soon part with £400,000 on a two bedroom apartment in Spitalfields I wish to talk to a conveyancer regarding theconveyancing ahead of appointing the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your property ownership legalities in Spitalfields.There is no ‘factory style conveyancing’ - each client is unique person, not a file reference. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Spitalfields should be the figure that you end up paying.