I am buying a house mortgage free in Anerley. I have lived for the last Seventeen years in Anerley. Conveyancing searches are expensive. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Anerley conveyancing searches are optional. Your conveyancer will 'advise', no-doubt strongly, that you should have searches completed, but he is duty bound to take that path of advice. Do bear in mind; if you are intend to sell the house one day, it may be of relevance to your future purchaser what the searches reveal. On occasion premises with day to day issues can still show up unexpected search results. A competent conveyancing solicitor in Anerley should be able to give you some practical advice here.
I own a freehold property in Anerley but still invoiced for rent, why is this and what is this?
It is rare for properties in Anerley and has limited impact for conveyancing in Anerley 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 from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My flat in Anerley is up for sale and I have accepted an offer. Will my solicitor have to be required to be on the TSB conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
How does conveyancing in Anerley differ for newly converted properties?
Most buyers of new build premises in Anerley come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Anerley usually purchase 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 Anerley or who has acted in the same development.
I decided to have a survey done on a property in Anerley before retaining solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some lenders may refuse to give a mortgage on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Anerley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Anerley to see if the conveyancing will be more expensive.