I own a freehold residence in Hammersmith but still pay rent, why is this and what is this?
It’s unusual for properties in Hammersmith and has limited impact for conveyancing in Hammersmith 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.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Should our solicitor be raising questions concerning flooding as part of the conveyancing in Hammersmith.
Flooding is a growing risk for lawyers conducting conveyancing in Hammersmith. Some people will buy a house in Hammersmith, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a various searches that may be carried out by the purchaser or by their conveyancers which will give them a better understanding of the risks in Hammersmith. The standard information given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to discover if the property has ever been flooded. In the event that the premises has been flooded in past which is not notified by the vendor, then a purchaser could commence a claim for damages as a result of such an inaccurate reply. A buyer’s conveyancers may also conduct an enviro report. This should reveal if there is any known flood risk. If so, more detailed investigations will need to be made.
Just bought a semi-detached house in Hammersmith , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Hammersmith conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are concluded.
As far as conveyancing in Hammersmith is concerned, registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can vary subject to who lodges the application, whether there are errors and whether the Land registry communicate with any third persons or bodies. As of today in the region of 80% of submission are fully addressed within 12 days but occasionally there can be protracted delays. Registration is effected once the new owner has moved in to the property so post completion formalities is not typically top priority but if there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
I am purchasing a new build house in Hammersmith with the aid of help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not reveal to my lawyer about the side-deal as it will adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Hammersmith. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Hammersmith ?
Most houses in Hammersmith are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Hammersmith so you should seriously consider shopping around for a Hammersmith conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Hammersmith. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to decide the price payable.
An example of a Freehold Enfranchisement decision for a Hammersmith residence is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case related to 2 flats. The unexpired term as at the valuation date was 68.32 years.
We are in the midst of selling our flat in Hammersmith. Conveyancing is fine but we have been asked to pay an extortionate amount by the landlord. So far we have paid £225 for a leasehold management pack and then a further £200 plus VAT for responses to queries supplied by the purchaser's conveyancer.
You will not have any say over the level of the charges for this information however the typical fee for the information for Hammersmith leasehold premises is £360. For Hammersmith conveyancing sales it is customary for the vendor to cover the charges. The landlord or their agents are under no statutory obligation to address such questions most will agree to do so - albeit often at exorbitant prices disproportionate to the work involved. Regretfully there is no law that mandates fixed charges for administrative tasks. There is no set time frame by which they are obliged to supply the information.