My husband and I are purchasing a 1 bedroom flat in Byfleet with a mortgage. We have a Byfleet solicitor, but the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our Byfleet conveyancing practitioner as well as pay for one of their panel firms to represent them. We feel that this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Byfleet conveyancing lawyer to apply to be on the conveyancing panel.
I purchased a freehold house in Byfleet yet pay rent, why is this and what is this?
It’s unusual for properties in Byfleet and has limited impact for conveyancing in Byfleet 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 new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
A colleague suggested that where I am buying in Byfleet I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Byfleet conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Byfleet around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Byfleet.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Byfleet I like with a park and transport links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Byfleet suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. 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 term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
How does the Landlord & Tenant Act 1954 affect my commercial property in Byfleet and how can you help?
The particular law that you refer to gives a safeguard to business tenants, giving them the a statutory right to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Byfleet
I own a leasehold house in Byfleet. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Byfleet who previously acted has now retired. What should I do?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Byfleet conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a ground floor flat in Byfleet, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Byfleet with over 90 years remaining are worth £190,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2088
You have 62 years left to run we estimate the price of your lease extension to range between £17,100 and £19,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.