I own a freehold residence in West Dulwich yet pay rent, why is this and what is this?
It’s unusual for properties in West Dulwich and has limited impact for conveyancing in West Dulwich 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 creation 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 after 2037 is to be dispensed with completely.
When it comes to lenders such as Lloyds, do West Dulwich conveyancing practitioners face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Can I be sure that the West Dulwich conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in West Dulwich getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction.
After weeks of negotiation I have agreed a price on an apartment in West Dulwich. My financial adviser pressured me to appoint their lawyer. I paid an upfront payment of £200. Shortly after, the property lawyer called me sheepishly admitting that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My relative suggested that if I am purchasing in West Dulwich I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard West Dulwich conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about West Dulwich around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the West Dulwich Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning West Dulwich.
It has been five months since my purchase conveyancing in West Dulwich concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £195,000 and identified one near me in West Dulwich I like with open areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in West Dulwich suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage that many years will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
What range of conveyancing matters do West Dulwich conveyancing firms typically advise on?
In the main West Dulwich conveyancing solicitors can provide a wide array of services to residential and agricultural land owners, sellers, first time buyers, freeholders and leaseholders assistingwith some of the following:
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Property sale conveyancing in West Dulwich or nationwide
Domestic purchase conveyancing in West Dulwich and also around the country
Conveyancing for builders and developers Deeds of gift Leasehold conveyancing selling and buying Staircasing i.e. buying extra shares of a property that has been purchased through a shared ownership scheme