I am the registered owner of a freehold property in Victoria Docks but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Victoria Docks and has limited impact for conveyancing in Victoria Docks 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.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
How does conveyancing in Victoria Docks differ for newly converted properties?
Most buyers of new build property in Victoria Docks contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because house builders in Victoria Docks typically buy 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 conveyancers 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 accustomed to new build conveyancing in Victoria Docks or who has acted in the same development.
I opted to have a survey carried out on a property in Victoria Docks before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may not give a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Victoria Docks. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Victoria Docks to see if the conveyancing will be more expensive.
Given that I will soon spend 450k on a two bedroom apartment in Victoria Docks I wish to talk to a lawyer concerning thehome move before giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer due to be carrying out your property ownership legalities in Victoria Docks.There is no ‘factory style conveyancing’ - each client is unique individual, not a case reference. The practices that we put you in touch with believe that the fees you are provided with for residential conveyancing in Victoria Docks should be the figure that you end up paying.
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Victoria Docks. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Victoria Docks ?
Most houses in Victoria Docks are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Victoria Docks so you should seriously consider looking for a Victoria Docks conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
We have reached the end of our tether in trying to purchase the freehold in Victoria Docks. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Victoria Docks conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Victoria Docks property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The unexpired residue of the current lease was 69.77 years.
How easy is it to change a solicitor as I need to find a Victoria Docks based firm who is on the bank conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet appointed a solicitor to commence the conveyancing and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Victoria Docks that you're thinking of instructing.