I require conveyancing for an apartment in a fairly new development (five years old) in South Hackney. The vast majority the appartments have already been disposed of. Do I need carry out the conveyancing searches for my conveyancing in South Hackney?
Where you are obtaining a mortgage, your mortgage company will require some (many) of the searches so you'll have no choice. If not, then South Hackney conveyancing searches are for you to decide upon. Your lawyer, will 'advise', perhaps in the strongest possible terms, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to change to an alternative solicitor for your conveyancing in South Hackney.
I am the registered owner of a freehold property in South Hackney yet pay rent, why is this and what is this?
It is rare for properties in South Hackney and has limited impact for conveyancing in South Hackney 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 generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in South Hackney so that I can attend their offices when needed.
As opposed to twenty years ago, most mortgage companies no longer need their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to supply identification documents and there are still distinct benefits to instructing a locally based solicitor, in your situation a conveyancing solicitor in South Hackney.
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a ground floor flat in South Hackney. Do I receive the keys to the property on the completion date from my solicitor? If so, I will instruct a High Street conveyancing solicitor in South Hackney?
On the day of completion you do not need to go to the conveyancers office in South Hackney. Your solicitors will electronically transfer the completion advance to the owner’s solicitors, and once they have received this, you should be invited to collect the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local South Hackney solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your South Hackney postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in South Hackney.
RBS have agreed my mortgage in principle, my bid on a property in South Hackney has been accepted, what happens next?
The property agent will wish to be informed of your conveyancer's details (ensure that the lawyers are on the bank’s approved list). Telephone RBS or your financial adviser and finish off any relevant documentation. RBS will sellect a valuer who will get in touch with the selling agent or seller to schedule a time for the valuation to happen. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. RBS will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in South Hackney.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in South Hackney and how can you help?
The 1954 Act affords protection to business tenants, granting the a statutory right to make a request to court for a new lease and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in South Hackney
I've recently bought a leasehold property in South Hackney. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have given up trying to reach an agreement for a lease extension in South Hackney. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to decide the amount due.
An example of a Freehold Enfranchisement decision for a South Hackney residence is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case affected 4 flats. The unexpired residue of the current lease was 90 (or thereabouts).