Would the conveyancing solicitors Indexed on your site carry out auction conveyancing in Selsdon?
We know of a few niche lawyers we can connect you with those conducting auction conveyancing. Selsdon is just one of hundreds of areas of in which our lawyers have offices.
I own a freehold property in Selsdon but still invoiced for rent, why is this and what is this?
It is rare for properties in Selsdon and has limited impact for conveyancing in Selsdon 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.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I'm at the point of viewing houses in Selsdon and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Principality.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Principality, ask your prospective lawyers if they are on the Principality conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with Leeds Building Society for my property in Selsdon. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
You must advise Leeds Building Society in advance of renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel solicitor.
Our sealed bid on a semi in Selsdon has been accepted, the sellers do however have an associated purchase. The owners have put an offer on somewhere, but it’s not been accepted yet, and are looking at other flats booked. I have selected a local conveyancing solicitor in Selsdon. What do I do now? At what stage do I apply for the mortgage with Nationwide?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then valuation, Selsdon conveyancing search charges, etc). The first thing to do is check that your conveyancer is on the Nationwide approved list. Regarding the next phase this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. In a rising market some home buyers will apply for a home loan with Nationwide and pay for the valuation and only if it was satisfactory would they ask their property lawyer to press on with searches.
I am selling our property in Selsdon and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers are using a nationwide conveyancing firm rather than a conveyancing solicitor in Selsdon. We have lived in Selsdon for three years we know that this is a non issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Over the last few months I have been searching for a flat up to £305k and found one near me in Selsdon I like with amenity areas and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Selsdon suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am tempted by the attractive purchase price for a two flats in Selsdon both have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Selsdon conveyancing firm to represent me?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Selsdon flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The unexpired term was 78.32 years.