I am the registered owner of a freehold residence in Pimlico yet charged rent, why is this and what is this?
It’s unusual for properties in Pimlico and has limited impact for conveyancing in Pimlico 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am selling my home in Pimlico. Does the conveyancer need to be required to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
How does conveyancing in Pimlico differ for new build properties?
Most buyers of new build property in Pimlico approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Pimlico typically purchase 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 used to new build conveyancing in Pimlico or who has acted in the same development.
I am looking to sell my property. My former solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Pimlico if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Pimlico. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am 3 weeks into a freehold purchase having been recommend to a firm by the high street agent to execute conveyancing in Pimlico. I am am starting to be frustrated with the quality of service. Could you help me find new conveyancers?
A solicitor would need to be very bad in order to consider changing them. Has your loan offer been generated? If so you must make them aware of the new contact details and have the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the banks approved list to avoid escalating charges and complications. That should be your first question of the new solicitors. The search tool can help you find a lender approved solicitor for your conveyancing in Pimlico
What are your top tips when it comes to choosing a Pimlico conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Pimlico conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Pimlico conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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How familiar is the practice with lease extension legislation? If they are not ALEP accredited then what is the reason?
We have reached the end of our tether in seeking a lease extension in Pimlico. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to decide the sum to be paid.
An example of a Lease Extension case for a Pimlico residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired term was 56 years.