The Barnehurst conveyancing firm handling our Barnehurst conveyancing has identified a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is in the conveyancing documents. My lawyer informs me that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I purchased a freehold property in Barnehurst but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Barnehurst and has limited impact for conveyancing in Barnehurst 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
What can a local search inform me regarding the house I am buying in Barnehurst?
Barnehurst conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search plays a central part in many a Barnehurst conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications relevant 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 subject areas.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Barnehurst is the location of the property. Can you shed any light on this issue?
Flying freeholds in Barnehurst are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barnehurst you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnehurst may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Barnehurst conveyancing firm to assist?
Absolutely. We can put you in touch with a Barnehurst conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Barnehurst flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term as at the valuation date was 76 years.
In relation to leasehold conveyancing in Barnehurst what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Barnehurst. Most leases are unique and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain elements of the property
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Leeds Building Society, and Godiva Mortgages Ltd 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 is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.
What if there is a problem with the searches carried out as part of our conveyancing in Barnehurst?
On the whole, the majority of problems that arise in Barnehurst conveyancing search results can be addressed before completion or indemnity insurance could possibly be put on cover. You need to note that even though you may be buying the premises and might be willing to live with the search results, your lender may not, and when all said and done the decision rests with them.