IfI was to purchase a simple residential propertyin Tooting Bec mortgage fee and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Tooting Bec?

The sole reduction in fees you would make on is the Tooting Bec conveyancing searches. A conveyancer is required to do the vast majority of work - money laundering, correspond with the vendors conveyancer, SDLT submission, register the ownership etc. You might save a bit for them not having to register a mortgage but it won't be a lot.

I purchased a freehold residence in Tooting Bec yet pay rent, why is this and what is this?

It’s unusual for properties in Tooting Bec and has limited impact for conveyancing in Tooting Bec 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 redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who dealt with the conveyancing in Tooting Bec 10 years ago no longer exist. What are my next steps?

As long as you have a registered title the information relating to your ownership will be documented by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, locate your house and secure current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.

I am buying a new build flat in Tooting Bec. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Tooting Bec

There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.

I am the leaseholder of a first floor flat in Tooting Bec. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

Most certainly. We are happy to put you in touch with a Tooting Bec conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Tooting Bec flat is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The unexpired residue of the current lease was 62.94 years.

What makes a Tooting Bec lease defective?

There is nothing unique about leasehold conveyancing in Tooting Bec. All leases are drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

Insurance obligations Clauses dealing with recovering service charges for expenditure on the building or common parts.

You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.