I am the registered owner of a freehold house in East Beckton yet pay rent, why is this and what is this?
It is rare for properties in East Beckton and has limited impact for conveyancing in East Beckton 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I happen to be the sole beneficiary of my late father’s will and I have everything in my name now, including the house in East Beckton. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Most mortgage companies would take a sensible view as this requirement primarily exists to capture the purchase and immediately sell or the wholesaling and assigning of property.
Can I be sure that the East Beckton conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in East Beckton getting recommendations is a good 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 advertising the lowest fees. We would always suggest that you speak with the solicitor handling your conveyancing.
I have instructed a East Beckton conveyancer having checked that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your East Beckton postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in East Beckton.
We are downsizing from our property in East Beckton and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the purchasers instructed a factory type conveyancing outfit as opposed to a conveyancing solicitor in East Beckton. We have lived in East Beckton for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Should I be concerned by brokers that I am dealing with are encouraging me to use an internet conveyancing firm rather than a local East Beckton conveyancing company?
As with many service providers, often recommendations from connections can be very helpful. Yet there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and lenders may suggest solicitors to retain. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are at liberty to choose your own conveyancer. However, bear in mind that many banks have an approved list of law firms you have to use for the lender related work in your transaction.
What advice can you give us when it comes to finding a East Beckton conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a East Beckton conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non East Beckton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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If they are not ALEP accredited then why not? How familiar is the practice with lease extension legislation?
I inherited a basement flat in East Beckton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the premium.
An example of a Lease Extension case for a East Beckton residence 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 was in relation to 1 flat. The unexpired term as at the valuation date was 69.77 years.
If instructed can a conveyancer remove a name from the title of my property in East Beckton ?
Removing or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a lawyer