I am the registered owner of a freehold premises in Battersea but still invoiced for rent, why is this and what is this?
It is rare for properties in Battersea and has limited impact for conveyancing in Battersea 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 from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My wife and I have recently appointed a conveyancing solicitor in Battersea. I I am struggling to find out whether they are accepted on the Godiva Mortgages Ltd conveyancing panel. Could you advise?
You should e-mail the lawyer and enquire whether they are on the lender panel. Otherwise you should call Godiva Mortgages Ltd who may be able to help.
I have a semi-detached Victorian property in Battersea. Conveyancing practitioner acted for me and Coventry Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Battersea and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the purchase.
I am purchasing a new build house in Battersea with a mortgage from Birmingham Midshires. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not to tell my lawyer about the extras as it will impact my loan with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a house in Battersea ahead of appointing lawyers. I have been informed that there is a flying freehold element to the house. The surveyor advised that some lenders will refuse to grant a loan on such a premises.
It depends who your proposed lender is. Santander has different instructions from Halifax. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Battersea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Battersea to see if the conveyancing costs will increase in light of this.
We are in the middle of buying a house in Battersea. Conveyancing lawyer has phoned to say the property is "Leasehold". Does this adversely affect the marketability of the house?
Battersea conveyancing does not normally involve leasehold houses. The crucial factor here is the remaining lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's virtually freehold, so it’s unlikely to impact the value significantly.
At the other end of the spectrum, if it's, say, Sixty years it will have a material impact on the value, and most likely wouldn't be acceptable to the lender. The remaining lease term and ground rent will be specified in the lease which should be made available to your property lawyer.