I purchased a freehold premises in Southfields but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Southfields and has limited impact for conveyancing in Southfields 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Can you clarify what the consequences are if my solicitor is suspended from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Southfields?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
The deeds to our house are lost. The conveyancers who handled the conveyancing in Southfields 4 years ago have long since closed. What are my options?
Gone are the days when you need to have the physical deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
I have been on the look out for a flat up to £305k and found one near me in Southfields I like with amenity areas and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Southfields for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years will be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
What does commercial conveyancing in Southfields cover?
Southfields conveyancing for business premises covers a broad array of advice, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I only have 72 years remaining on my lease in Southfields. I am keen to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the landlord. In some cases a specialist would be helpful to carry out a search and prepare a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Southfields.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Southfields conveyancing firm to assist?
Most certainly. We can put you in touch with a Southfields conveyancing firm who can help.
An example of a Lease Extension decision for a Southfields property is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case was in relation to 1 flat. The unexpired lease term was 69.32 years.