I purchased a freehold house in Croydon but still charged rent, why is this and what is this?
It is rare for properties in Croydon and has limited impact for conveyancing in Croydon 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 generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
The mortgage over my property is with Coventry BS for my property in Croydon. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel lawyer.
I am selling my apartment. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being difficult. The Croydon solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
At last I have had an offer on a maisonette in Croydon agreed to, but there is a chain. The sellers have put an offer on on an apartment, but it’s not yet tied up, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Croydon. What do I do now? When do I get the mortgage application with Virgin Money going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Croydon conveyancing search charges, etc). First, you must check that your property lawyer is on the Virgin Money approved list. Concerning the next phase this very much depends on the circumstances of your case, desire for the property and on the state of the market. During a rising market many home buyers will apply for the mortgage with Virgin Money and pay for the valuation and only if it comes back ok would they request their conveyancer to press on with searches.
How can the Landlord & Tenant Act 1954 impact my commercial premises in Croydon and how can your lawyers assist?
The 1954 Act affords a safeguard to business tenants, giving them the a statutory right to apply to court for a new tenancy and remain in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Croydon
My husband and I are 14 days into a residential purchase having been directed to solicitors by the selling agent to do our conveyancing in Croydon. We are not happy. Can you you assist me in finding new lawyers?
A lawyer would need to be really poor in order to consider changing them. Has the loan offer been generated? If so you need to advise them of the new solicitor and get the loan are issued to the new lawyers. The conveyancer should be on the lenders panel to avoid escalating costs and delays. That should be your starting point. Our find a solicitor tool will assist you in finding a lender approved conveyancer for your conveyancing in Croydon
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350,000 maisonette in Croydon next week. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Croydon?
For the majority of leasehold sales in Croydon conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-contract enquiries
Where consent is required before sale in Croydon
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Croydon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the amount due.
An example of a Freehold Enfranchisement decision for a Croydon property is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The remaining number of years on the lease was 98 years.