I am need of leasehold conveyancing for an apartment in a fairly new development (five years built) in Cricklewood. Almost all the flats have already been disposed of. Do I need carry out the neighbourhood searches for my conveyancing in Cricklewood?
You would be putting yourself at risk in refusing to carrying out Cricklewood conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would strongly advise in the strongest possible terms that your conveyancer conducts them. If timings and cost are primary concerns you should consider with your solicitor about the options such as indemnity insurance available to you
I purchased a freehold house in Cricklewood yet invoiced for rent, why is this and what is this?
It is rare for properties in Cricklewood and has limited impact for conveyancing in Cricklewood 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 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 will be dispensed with completely.
Various internet forums that I have frequented warn that are the main reason for obstruction in Cricklewood house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Cricklewood.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Cricklewood?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cricklewood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Cricklewood differ for new build properties?
Most buyers of new build property in Cricklewood contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Cricklewood tend to purchase 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 conveyancing solicitors 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 accustomed to new build conveyancing in Cricklewood or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Cricklewood I like with a park and station in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Cricklewood for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.