I am the registered owner of a freehold residence in South London but still invoiced for rent, why is this and what is this?
It’s unusual for properties in South London and has limited impact for conveyancing in South 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We wanted to use a property lawyer in South London for our house move. Our broker informed us that our mortgage company The Royal Bank of Scotland won't deal with them. Surely this is unfair competition?
A bank will require a panel conveyancer act for it. Borrowers are expected to meet the cost of this. Please make use of our tool to get a quote from a solicitor to carry conveyancing in South London on the The Royal Bank of Scotland member panel.
Despite weeks of looking the Title Certificate and documents to my house are lost. The solicitors who handled the conveyancing in South London 10 years ago have long since closed. What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer should be aware exactly where to locate all the suitable paperwork so you can purchase or dispose of your house without a hitch. Where copies are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities against possible claims on the property.
How does conveyancing in South London differ for new build properties?
Most buyers of new build residence in South London come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in South London tend to purchase the land, 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 conveyancing solicitors 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 South London or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in South London before appointing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will refuse to issue a mortgage on such a home.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in South London. Conveyancing may be slightly more expensive based on your lender's requirements.
Why can I not complete our conveyancing in South London on May bank holiday?
This is due to the fact that on completion the sale price will pass between the banks of the buyer and seller's lawyer and at present this can only take place on a business day. So you can't complete on a weekend either.