I am the registered owner of a freehold house in Anerley but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Anerley and has limited impact for conveyancing in Anerley 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.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
The Anerley conveyancing lawyers that I recently instructed on my purchase in Anerley have without warning shut down. They were on acting for me because I needed a solicitor on the Skipton conveyancing panel and my preferred Anerley lawyer was not. I paid them funds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Is it necessary to take out insurance to cover chancel repairs when buying a house in Anerley?
Unless a prior acquisition of the property completed post 12 October 2013 you could assume that lawyers conducting conveyancing in Anerley to continue to recommend a chancel search and or chancel repair liability policy.
How does conveyancing in Anerley differ for new build properties?
Most buyers of new build or newly converted property in Anerley approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Anerley usually buy the site, 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 Anerley or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Anerley I like with a park and station nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Anerley suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I have given up trying to reach an agreement for a lease extension in Anerley. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Anerley conveyancing firm who can help.
An example of a Lease Extension case for a Anerley residence is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case related to 1 flat. The number of years remaining on the existing lease(s) was 26.38 years.
In relation to leasehold conveyancing in Anerley what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Anerley. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. A duty to insure the building
You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.