I own a freehold premises in Clapton but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Clapton and has limited impact for conveyancing in Clapton 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am planning to acquire a property and need a conveyancing solicitor in Clapton who is on the Bank of Ireland conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Clapton. We dont recommend any particular firm.
How does conveyancing in Clapton differ for newly converted properties?
Most buyers of new build or newly converted property in Clapton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Clapton tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Clapton or who has acted in the same development.
I was advised by a few estate agents in Clapton to choose a conveyancer on your site. What’s the financial advantage for Estate Agents to promote your lawyers rather than another?
We refuse to give any referral fee for directing people to this site. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're FTB’s - had an offer accepted, yet the estate agent informed us that the owners will only go ahead if we use the agent's chosen conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Clapton
It is highly unlikely the owners are behind this. If they want ‘a quick sale', alienating a genuine purchaser is going to damage their objectives. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to instruct your preferred Clapton conveyancing lawyers - not the ones that will provide the estate agent a kickback or meet his conveyancing thresholds pre-set by senior management.
I am looking at a two apartments in Clapton both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorates and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena.
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Clapton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Clapton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Clapton residence is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The unexpired lease term was 71.25 years.