I am the registered owner of a freehold residence in Swanley but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Swanley and has limited impact for conveyancing in Swanley 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 new 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 post 2037 will be extinguished.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when acquiring a residence in Swanley? or Apparently there is a law dating back centuries that means some owners of property living in a parish church boundary will be compelled to pay for maintenance to the chancel in proximity to the church. Is this relevant for conveyancing in Swanley?
Unless a previous acquisition of the house completed after 12 October 2013 you could expect solicitors carrying out conveyancing in Swanley to continue to suggest a chancel search and or chancel repair liability policy.
I have todayfound out that Stirling Law have been shut down. They carried out my conveyancing in Swanley for a purchase of a freehold house 18 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Swanley conveyancing specialists.
I opted to have a survey carried out on a house in Swanley in advance of appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies will refuse to give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Swanley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Swanley to see if the conveyancing costs will increase in light of this.
How easy is it to use the search tool to get a fee calculation from a conveyancing lawyer in Swanley on the authorised to act for my lender?
Step one is to choose a bank such as Birmingham Midshires, Leeds Building Society or Platform Home Loans Ltd then type in your location for instance Swanley. Conveyancing practices in Swanley and beyond should be identified.
I am tempted by the attractive purchase price for a couple of flats in Swanley which have about forty five years remaining on the lease term. should I be concerned?
There are plenty of short leases in Swanley. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorates and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Swanley conveyancing firm to act on my behalf?
Absolutely. We are happy to put you in touch with a Swanley conveyancing firm who can help.
An example of a Lease Extension decision for a Swanley residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The number of years remaining on the existing lease(s) was 76 years.