I am the registered owner of a freehold house in South East London but still invoiced for rent, why is this and what is this?
It is rare for properties in South East London and has limited impact for conveyancing in South East London 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 from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I used Stirling Law a few years ago for my conveyancing in South East London. Now, I need the documents but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in South East London of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in South East London with the aid of help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not disclose to my lawyer about the deal as it may jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the guidance of my in-laws I had a survey completed on a property in South East London before instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders tend not grant a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in South East London. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in South East London to see if the conveyancing costs will increase in light of this.
What advice can you give us when it comes to appointing a South East London conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a South East London 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 two or three firms including non South East London conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
What are the legal fees for lease extension conveyancing?
I am the proprietor of a two-bedroom flat in South East London. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Freehold Enfranchisement case for a South East London flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired lease term was 73.26 years.
My wife is purchasing a leasehold maisonette in South East London. Conveyancing quotes are averaging around £two thousand. Does that seem right?
The average fee last year for conveyancing in South East London was £1,500 excluding Land Tax and HMLR charges.