I own a freehold premises in Purley yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Purley and has limited impact for conveyancing in Purley 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment 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 in 2037 is to be extinguished.
My property lawyer in Purley is not on the Leeds Building Society Solicitor Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the Leeds Building Society panel of approved conveyancing solicitors?
The limited options available to you here include:
- Carry on with your preferred Purley lawyers but Leeds Building Society will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges as well as cause delays.
- Get a new lawyer to to deal with the conveyancing, not forgetting to check they are Leeds Building Society approved.
- Persuade your Leeds Building Society solicitor to attempt to join the Leeds Building Society panel
3 months have elapsed following my purchase conveyancing in Purley took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Purley differ for newly converted properties?
Most buyers of new build property in Purley come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Purley typically acquire 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 conveyancers 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 Purley or who has acted in the same development.
Are there any apps to help search for a Purley solicitor on the Aldermore conveyancing panel? I drive a motor bike and am willing to travel upto 20miles to meet the conveyancer.
You can use the tool on this website. Please pick a mortgage company and your location and you will see a number of Purley conveyancing lawyers locally. We have listed some Purley conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Aldermore approved list
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Purley. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Purley conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Purley property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The unexpired term as at the valuation date was 78.32 years.
In relation to leasehold conveyancing in Purley what are the most frequent lease defects?
Leasehold conveyancing in Purley is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.