I am acquiring a property for cash in Balham. I have been living for the last twelve years in Balham. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a home loan, then almost all of the Balham conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches done, but he is duty bound to take that path of advice. One thing to consider; if you are going to dispose of the house at a future date, it could be of interest to your future purchaser what the searches determine. On occasion houses with functional issues can still throw up adverse search results. A competent conveyancing solicitor in Balham should provide you some sensible guidance in this regard.
I am the registered owner of a freehold residence in Balham but still pay rent, why is this and what is this?
It is rare for properties in Balham and has limited impact for conveyancing in Balham 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 extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
What can a local search inform me concerning the house my wife and I buying in Balham?
Balham conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Searchflow The local search plays a central role in many a Balham conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
The deeds to our house are lost. The solicitors who handled the conveyancing in Balham 10 years ago have long since closed. Will I be able to sell the house?
As long as the title is registered the information relating to your ownership will be evidenced by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, find your house and order up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will in most cases hold a certified copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Balham I like with amenity areas and station in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Balham 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 that many years will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Do I need to pop into the offices of the mortgage company conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Balham as it will be easier to attend their offices if necessary.
Most conveyancing panel lawyers for the bank undertake conveyancing via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Balham. it would nevertheless be wise to check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.