I purchased a freehold premises in Sydenham but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Sydenham and has limited impact for conveyancing in Sydenham 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 fresh rentcharges post 1977.
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 dispensed with completely.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Sydenham. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then TSB will insist on your using a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Can you help - my lawyer says that restrictive coveneant insurance is necessary on my purchase. What is the level of cover for Sydenham conveyancing?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Can you point me to a directory of Virgin Money panel solicitors in Sydenham on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings viewable on the web. If you are looking for a Sydenham lawyer on the Virgin Money please make the most of our facility.
My wife and I have arranged a further advance on our home loan from Virgin Money as we intend to carry out a loft conversion to our home in Sydenham. Are we obliged to select a local Sydenham solicitor on the Virgin Money conveyancing panel to deal with the paperwork?
Virgin Money do not ordinarily require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money list.
Will commercial conveyancing searches disclose proposed roadworks that could affect a commercial land in Sydenham?
Many commercial conveyancing solicitors in Sydenham will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Sydenham. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Sydenham.
For each commercial conveyancing transaction in Sydenham it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Sydenham commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Sydenham.
About to purchase a new build flat in Sydenham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Sydenham
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared.
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Sydenham I like with open areas and station nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Sydenham suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.