We are soon to exchange on the purchase of a property in East Sheen but as a consequence of damage from a small fire at the property I have managed to agree recompense from the owner in the sum of £2k by way of a deduction in the price. I had intended this to be dealt with as part of amending the contract but Aldermore are not allowing this. Should they have been involved?
Any lawyer being on the Aldermore conveyancing panel is obliged to advise Aldermore of any variations to the sale price. If you were to refuse your conveyancer to disclose the price change to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new solicitor for your conveyancing in East Sheen.
I am the registered owner of a freehold house in East Sheen but still invoiced for rent, why is this and what is this?
It’s unusual for properties in East Sheen and has limited impact for conveyancing in East Sheen 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 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 in 2037 is to be extinguished.
What does a local search reveal regarding the property I am buying in East Sheen?
East Sheen conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for instance Onsearch The local search plays a central part in most East Sheen conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I am a negotiator for a reputable estate agent office in East Sheen where we have experienced a number of leasehold sales derailed due to short leases. I have been given contradictory information from local East Sheen conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a a ground floor purpose built flat in East Sheen. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Where there is a absentee freeholder or where 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 First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Freehold Enfranchisement decision for a East Sheen premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The unexpired residue of the current lease was 66.25 years.
I have chosen a East Sheen conveyancing solicitor for our home move (FTB’s) and have noticed in the Ts and Cs that they are not governed by the FCA. Should I be worried or is that the norm with conveyancer?
We can't see why they should be. Most conveyancer don't lend money. They will be governed by the Solicitors Regulation Authority, who have strict conditions covering monies held on client account.