I purchased a freehold premises in Mitcham yet invoiced for rent, why is this and what is this?
It is rare for properties in Mitcham and has limited impact for conveyancing in Mitcham 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 creation of new rentcharges post 1977.
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 dispensed with completely.
Me and my partner are purchasing a house in Mitcham. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to put money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Have just purchased a repossessed house at auction in Mitcham. Conveyancing is necessary. What is next?
Given that you are now to in every practical sense signed on the dotted line you should choose a conveyancing solicitor quickly as you are faced with a pending deadline in which to complete the property. Every auction property should have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You should give this to the solicitor working for you at the earliest opportunity. Do make sure that your finances are in place to complete the transaction on the set completion date.
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a garden flat in Mitcham. Do I pick up the keys to the property on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Mitcham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's solicitors, and once they have received this, you should be invited to pick up the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
A colleague advised me that if I am purchasing in Mitcham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Mitcham conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Mitcham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Mitcham Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data concerning Mitcham.
I'm buying a new build house in Mitcham benefiting from help to buy. The builders would not budge the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not inform my lawyer about the side-deal as it would impact my mortgage with Barclays . Should I keep quiet?.
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.
How simple is it to use the search tool to choose a conveyancing practitioner in Mitcham on the approved list for my mortgage?
First select a bank such as Yorkshire Building Society, Coventry Building Society or Alliance & Leicester then choose your preferred area a common one being Mitcham. Conveyancing firms in Mitcham and across England and Wales will then be listed.
We are midway through buying a house in Mitcham. Conveyancing solicitor has phoned to say the title is "Leasehold". Should this impact our Halifax valuation?
Mitcham conveyancing does not normally involve leasehold houses. The crucial factor here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's essentially freehold, so it’s unlikely to affect the saleability too much.
At the other end of the spectrum, if it's, say, Sixty years it will have a adverse effect on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease provided to your property lawyer.