I am the registered owner of a freehold premises in Blackfriars but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Blackfriars and has limited impact for conveyancing in Blackfriars 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 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 after 2037 will be extinguished.
I have just over seventy years unexpired on my lease and need a lease extension for my flat in Blackfriars. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 3/7/2020 the requirements read as follows :
Is it correct that all Blackfriars CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Last month we had a mortgage agreed in principle with TSB. Blackfriars conveyancing solicitors have been instructed. How long does it take for TSB to send the offer to the conveyancing practitioner?
There is no definitive answer here. Have TSB done the valuation? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I'm at the point of looking at houses in Blackfriars and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Co-operative.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are seeking a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
My colleague recommended that if I am purchasing in Blackfriars I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Blackfriars conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Blackfriars around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Blackfriars Education with maps and statistics, Local Amenities and other useful data concerning Blackfriars.
Me and my brother purchased a semi-detached Edwardian house in Blackfriars. Conveyancing solicitor represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blackfriars and other locations in 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 purchasers. You can also enquire as to the situation with your conveyancing lawyer who conducted the purchase.
We have reached the end of our tether in seeking a lease extension in Blackfriars. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the price payable.
An example of a Lease Extension case for a Blackfriars property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired lease term was 66.8 years.
Are there common problems that you encounter in leases for Blackfriars properties?
There is nothing unique about leasehold conveyancing in Blackfriars. Most leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
-
A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea 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 defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.