I purchased a freehold premises in South Harrow yet charged rent, why is this and what is this?
It is rare for properties in South Harrow and has limited impact for conveyancing in South Harrow 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 generation of fresh 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 post 2037 will be extinguished.
I can not fathom if my mortgage offer requires a lease extension. I have called into my local South Harrow building society branch on various occasions and was reassured it wasn't an issue and they will lend. My South Harrow conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
The property lawyer has to follow the Council of Mortgage Lenders’ Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my house. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Kent Reliance are being problematic. The South Harrow solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Intending to buy a maisonette in South Harrow. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the South Harrow property lawyer is on the Co-operative conveyancing panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in South Harrow?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in South Harrow. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in South Harrow differ for new build properties?
Most buyers of new build property in South Harrow contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in South Harrow tend to purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in South Harrow or who has acted in the same development.
I decided to have a survey completed on a house in South Harrow prior to retaining solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some lenders may not issue a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in South Harrow. Conveyancing will be smoother if you use a solicitor in South Harrow especially if they are acquainted with such properties in South Harrow.
My business partner and I are looking to lease a unit on a shopping parade. Can you recommend conveyancers offering no-sale-no fees for commercial conveyancing in South Harrow for under 2k?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in South Harrow, including the disposal and purchase of businesses as well as simply property. Whether you are looking to acquire or sell a shop, pub, restaurant, office, retail premises or a whole business we can find you the right solicitor. As for the charges these will vary based on the structure and complexity of the deal. Let us have your contact information or call us so that we may provide you with a detailed commercial conveyancing quote.