I own a freehold premises in Plumstead but nevertheless pay rent, why is this and what is this?
It is rare for properties in Plumstead and has limited impact for conveyancing in Plumstead 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.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am planning to move home in January. Will my conveyancing solicitor update the removal company on the completion day. Incidentally, can you recommend a removal company in Plumstead. Conveyancing solicitor was organised before I stumbled across this page.
On the day of completion you will need to pick up the keys from your property agent but this should only take place once the sellers lawyers inform the agent that the monies to complete are in and the keys can be handed over. Subsequently you should inform the removal men that they can start moving you in. We do not suggest a particular removal organisation but can assist you in finding a conveyancing in Plumstead or a firm that specialises in conveyancing in Plumstead.
Is it the case that all Plumstead CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved solicitors?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We previously instructed solicitors based in Plumstead on the Aldermore solicitor approved list. They have just billed me a supplemental sum for handling the Aldermore mortgage. Is this an additional conveyancing fee specified by Aldermore?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner is entitled to levy a fee for this. The fee is not dictated by Aldermore but by your Plumstead property lawyer. Plenty of firms on the Aldermore panel will quote an ‘acting for lender’ fee and others do not.
About to purchase a new build flat in Plumstead. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Plumstead
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a flat up to £235,500 and identified one round the corner in Plumstead I like with a park and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Plumstead suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I need to find a conveyancing solicitor for remortgage conveyancing in Plumstead. I happened to discover a site which seems to have the ideal solution If it is possible to get all formalities completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a busy estate agent office in Plumstead where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Plumstead conveyancing solicitors. Can you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Plumstead conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Plumstead conveyancing firm who can help.
An example of a Lease Extension case for a Plumstead property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.