I own a freehold premises in Blackwall but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Blackwall and has limited impact for conveyancing in Blackwall 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 generation 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 will be dispensed with completely.
What is your number one tip for choosing a conveyancing solicitor in Blackwall
It would be unwise to be seduced by the cheapest Blackwall conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
A friend advised me that in buying a property in Blackwall there could be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Blackwall which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Blackwall should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I currently have a mortgage with Lloyds for my property in Blackwall. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. You need not do this via a Lloyds conveyancing panel solicitor.
Will my solicitor be raising enquiries regarding flooding as part of the conveyancing in Blackwall.
Flooding is a growing risk for lawyers dealing with homes in Blackwall. There are those who buy a house in Blackwall, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a various searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Blackwall. The standard completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to determine if the premises has ever been flooded. If flooding has previously occurred which is not revealed by the vendor, then a purchaser may bring a legal claim for losses as a result of such an incorrect answer. A purchaser’s lawyers may also carry out an environmental search. This will reveal if there is a recorded flood risk. If so, more detailed inquiries should be initiated.
About to purchase a new build apartment in Blackwall. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Blackwall
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
In my capacity as executor for the will of my grandfather I am disposing of a residence in Neath but reside in Blackwall. My conveyancer (who is 300 miles from meneeds me to execute a stat dec prior to completion. Could you suggest a conveyancing solicitor in Blackwall to witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Blackwall based
What is the average legal costs for conveyancing in Blackwall?
The average fee in 2014 for conveyancing in Blackwall was just over one thousand four hundred and fifty pounds excluding Stamp Duty and HMLR fees.