I am the registered owner of a freehold property in Lambeth but still charged rent, why is this and what is this?
It’s unusual for properties in Lambeth and has limited impact for conveyancing in Lambeth 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 from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am helping my niece sell her flat in Lambeth. Does the conveyancing solicitor order an EPC or it is for the seller to see to?
After the abolition of Home Information Packs, EPC’s remained a compulsory component of selling a property. An EPC must be commissioned in advance of the property being placed on the market. This is not a task that solicitors normally arrange. Where you are using a Lambeth conveyancing lawyer they may help arrange energy performance certificates given their relationships with reputable local assessors
A friend advised me that in buying a property in Lambeth there may be a number of restrictions prohibiting external changes to a property. Is this right?
There are a number of properties in Lambeth which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Lambeth should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the only recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Lambeth. The Lambeth property was put into my name in June. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the house in June. Do I have to wait 6 months to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view mortgage companies take of it, depend on the bank as this requirement principally exists to pick up on subsales or the flipping of properties.
Have completed on a a semi-detached house in Lambeth , What is the estimated time for the Land Registry to record the transfer to my name? My Lambeth conveyancing solicitor works at snail pace, so I want to check the land registry aspects are dealt with.
As far as conveyancing in Lambeth registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can vary subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any interested parties. At present roughly three quarters of submission are fully addressed in less than three weeks but occasionally there can be longer delays. Historically registration is effected after the purchaser has moved in to the premises therefore post completion formalities is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying my first flat in Lambeth with a mortgage from The Royal Bank of Scotland. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not disclose to my lawyer about this deal as it may affect my loan with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.
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.
Due to the advice of my in-laws I had a survey completed on a property in Lambeth prior to instructing lawyers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some lenders will not give a loan on such a property.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lambeth. Conveyancing may be slightly more expensive based on your lender's requirements.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.