I am the registered owner of a freehold residence in West Ham but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in West Ham and has limited impact for conveyancing in West Ham 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 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 in 2037 will be extinguished.
My grandfather passed away six months ago and as sole heir and executor I was left the house in West Ham. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you plan to refinance then HSBC will require that you use a conveyancer on the HSBC 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 HSBC 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 HSBC mortgage is registered as a charge at the Land Registry.
Will our solicitor be raising questions concerning flooding during the conveyancing in West Ham.
The risk of flooding is if increasing concern for lawyers dealing with homes in West Ham. Some people will buy a property in West Ham, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a various checks that may be carried out by the purchaser or by their lawyers which should figure out the risks in West Ham. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to determine whether the premises has suffered from flooding. If the property has been flooded in past and is not disclosed by the vendor, then a buyer may issue a legal claim for losses as a result of such an incorrect answer. The purchaser’s conveyancers should also commission an environmental search. This should disclose whether there is a recorded flood risk. If so, additional inquiries will need to be initiated.
I am looking for a ground for flat up to £195,000 and identified one round the corner in West Ham I like with amenity areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in West Ham for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could 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 term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
We're first time buyers - agreed a price, yet the estate agent advised that the vendor will only proceed if we use their chosen lawyers as they want an ‘expedited deal’. We would rather use a family conveyancer accustomed to conveyancing in West Ham
It is improbable the vendors are behind this. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your preferred West Ham conveyancing firm - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing thresholds set by HQ.
Having checked my lease I have discovered that there are only 68 years unexpired on my lease in West Ham. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the lessor. On the whole a specialist may be useful to conduct investigations and to produce a report to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court covering West Ham.
I am the registered owner of a first floor flat in West Ham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Most certainly. We are happy to put you in touch with a West Ham conveyancing firm who can help.
An example of a Lease Extension case for a West Ham residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired term as at the valuation date was 69.77 years.