I am in need of a conveyancer. Should I go for for an online conveyancer as opposed to a high street Thamesmead conveyancing solicitor?
Established third party relationships are another important factor to consider when appointing conveyancing lawyers. Thamesmead law firms benefit from connections with financial advisers and agents, local authorities, valuers and other law firms meaning the whole process is going to be much smoother for you. Having a sound experience in the local area also helps too.
I own a freehold house in Thamesmead but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Thamesmead and has limited impact for conveyancing in Thamesmead 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new 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 post 2037 will be extinguished.
What will a local search tell me about the house I am buying in Thamesmead?
Thamesmead conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance Searchflow The local search plays an important part in most Thamesmead conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Thamesmead?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Thamesmead. 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 Thamesmead differ for newly converted properties?
Most buyers of new build property in Thamesmead come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Thamesmead usually 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 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 used to new build conveyancing in Thamesmead or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Thamesmead I like with open areas and railway links nearby, however it only has 49 years on the lease. There is not much else in Thamesmead in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.