I purchased a freehold residence in Dartford but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Dartford and has limited impact for conveyancing in Dartford 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My property lawyer in Dartford is not listed on the Virgin Money Solicitor Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Virgin Money list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Dartford solicitors but Virgin Money will need to use a lawyer on their panel. This will result in additional overall conveyancing charges as well as cause frustration.
- Find a new practitioner to to deal with the conveyancing, obviously checking they are on the Virgin Money panel
Should our conveyancer be raising questions concerning flooding during the conveyancing in Dartford.
The risk of flooding is if increasing concern for lawyers dealing with homes in Dartford. There are those who acquire a property in Dartford, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Dartford. The conventional set of property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to determine whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not notified by the vendor, then a buyer may commence a legal claim for losses stemming from an incorrect reply. The buyer’s conveyancers may also conduct an environmental report. This should indicate whether there is a recorded flood risk. If so, further investigations should be conducted.
How does conveyancing in Dartford differ for new build properties?
Most buyers of new build premises in Dartford contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because builders in Dartford typically buy the real estate, 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 Dartford or who has acted in the same development.
I am tempted by the attractive purchase price for a two apartments in Dartford both have approximately 50 years left on the leases. should I be concerned?
There are plenty of short leases in Dartford. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Dartford. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Dartford conveyancing firm who can help.
An example of a Lease Extension case for a Dartford flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The number of years remaining on the existing lease(s) was 76 years.
My husband and I hope to acquire our 1st home in Dartford. Conveyancing lawyer has been instructed. The mortgage adviser pointed out that a survey is not appropriate as the house was only constructed twenty two years ago.
You would be well advised to take a Home Buyer's Report. Given the property was built over a decade ago the property will not benefit from a warranty, so you don't want to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could be sufficient. They will highlight any obvious problems and suggest further investigation where appropriate. If there are any indications of problems obtain a comprehensive Building Survey from the beginning.