AssumingI was to purchase a freehold propertyin Lewisham for cash and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Lewisham?
The only reduction in fees you would make on is the Lewisham conveyancing searches. The conveyancing practitioner still be obliged to do everything else - money laundering, communicating with your vendors solicitor, stamp duty submission, register the title etc. A slight saving might be made by not needing to register a mortgage but it will not be meaningful.
I own a freehold residence in Lewisham but still charged rent, why is this and what is this?
It is rare for properties in Lewisham and has limited impact for conveyancing in Lewisham 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 generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My lawyer in Lewisham is not listed on the Leeds Building Society Conveyancing Panel. Can I still use my prefered solicitor notwithstanding that they are not on the Leeds Building Society list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred Lewisham lawyers but Leeds Building Society will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the total legal fees as well as cause frustration.
- Get an alternative practitioner to to deal with the purchase, not forgetting to check they are Persuade your solicitor to use their best endeavours to join the Leeds Building Society conveyancing panel
I have been on the look out for a flat up to £305k and found one near me in Lewisham I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Lewisham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300,000 maisonette in Lewisham in just under a week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lewisham?
For most leasehold sales in Lewisham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Answering conveyancing due diligence enquiries
Where consent is required before sale in Lewisham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Lewisham conveyancing firm to help?
in cases 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 it is possible to make an application to the LVT to make a decision on the price.
An example of a Lease Extension decision for a Lewisham flat is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The remaining number of years on the lease was 72 years.