I purchased a freehold house in West Croydon but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in West Croydon and has limited impact for conveyancing in West 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in West Croydon so that I can pop in to their offices when needed.

These days conveyancing panel lawyers for banks undertake their communications through Royal Mail, internet or over the phone. This enables them to undertake the legal work for your home move regardless of where you live in England or Wales. However you can check if you have the option of visiting the offices of your conveyancing lawyer if just in case this is required.

Are there restrictive covenants that are commonly picked up during conveyancing in West Croydon?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in West Croydon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

How does conveyancing in West Croydon differ for new build properties?

Most buyers of new build property in West Croydon contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in West Croydon usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West Croydon or who has acted in the same development.

I am looking for a ground for flat up to £235,500 and identified one round the corner in West Croydon I like with amenity areas and station in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in West Croydon for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.