I purchased a freehold residence in West Dulwich yet invoiced for rent, why is this and what is this?
It is rare for properties in West Dulwich and has limited impact for conveyancing in West Dulwich 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 fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. West Dulwich is where the house is located. Can you shed any light on this issue?
Flying freeholds in West Dulwich are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in West Dulwich you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Dulwich may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are first time buyers - had an offer accepted, yet the property agent told us that the owners will only issue a contract if we instruct the agent's preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in West Dulwich
We suspect that the seller is not behind this ultimatum. If they require ‘a quick sale', turning down a motivated buyer is counter productive. Speak to the vendors direct and make sure they understand (a)you are serious purchasers (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you will continue to appoint your preferred West Dulwich conveyancing firm - rather thanthe ones that will give their negotiator at the agency a commission or meet his conveyancing thresholds set by corporate headquarters.
We expect to complete our sale of a £125,000 maisonette in West Dulwich next Tuesday. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in West Dulwich?
West Dulwich conveyancing on leasehold flats usually involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are entitled to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I own a ground floor flat in West Dulwich. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
if there is a missing freeholder or where there is dispute 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 calculate the premium.
An example of a Freehold Enfranchisement decision for a West Dulwich premises is 8 Deerbrook Road in May 2010. the Tribunal held that the enfranchisement price, in accordance with section 32 and Schedule 6 of the Leasehold Reform, Housing and Urban Development Act 1993 was £22,820, payable by the Applicants. By an order of the Lambeth County Court dated 17 June 2009 the case had been transferred to the Leasehold Valuation Tribunal for its determination of the premium payable This case affected 3 flats.
At long last our conveyancing in West Dulwich is set to complete on Friday, however the people I am buying off has asked to vacate on the Saturday PM. Do I accept this?
Where you need a bank loan then your solicitor will insist that the property isvacant on Friday - the bank will require it.