I purchased a freehold residence in New Cross yet invoiced for rent, why is this and what is this?

It is rare for properties in New Cross and has limited impact for conveyancing in New Cross 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.

Previous 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.

I am purchasing a new build house in New Cross with a mortgage from Birmingham Midshires. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not reveal to my lawyer about this deal as it could put at risk my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in New Cross I like with a park and transport links nearby, however it's only got 49 years on the lease. I can't really find anything else in New Cross in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.

I need to find a conveyancing solicitor for freehold conveyancing in New Cross. I have discover a site which looks to be the perfect offering If it is possible to get all the legals completed via email that would be preferable. Do I need to be wary? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I only have Sixty One years remaining on my lease in New Cross. I now want to extend my lease but my landlord is absent. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the landlord. On the whole an enquiry agent should be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing New Cross.

Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in New Cross. Can we issue an application to the Residential Property Tribunal Service?

if 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 case for a New Cross premises is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case was in relation to 3 flats. The number of years remaining on the existing lease(s) was 80.01 years.