I am the registered owner of a freehold residence in Victoria but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Victoria and has limited impact for conveyancing in Victoria 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I have justfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Victoria for a purchase of a freehold house 12 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can make 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 Victoria conveyancing specialists.
How does conveyancing in Victoria differ for newly converted properties?
Most buyers of new build residence in Victoria contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Victoria typically buy the site, 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 Victoria or who has acted in the same development.
I decided to have a survey carried out on a house in Victoria in advance of appointing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will refuse to issue a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Victoria. Conveyancing will be smoother if you use a solicitor in Victoria especially if they are acquainted with such properties in Victoria.
I need to retain a conveyancing solicitor for purchase conveyancing in Victoria. I've land on a web site which seems to have the perfect offering If there is a chance to get all the legals completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What advice can you give us when it comes to choosing a Victoria conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Victoria conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Victoria conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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If the firm is not ALEP accredited then why not? How many lease extensions has the firm conducted in Victoria in the last year?
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Victoria conveyancing firm to assist?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price payable.
An example of a Lease Extension matter before the tribunal for a Victoria residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The unexpired term was 56 years.