I own a freehold property in Pimlico but still invoiced for rent, why is this and what is this?
It is rare for properties in Pimlico and has limited impact for conveyancing in Pimlico 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My property lawyer in Pimlico is not listed on the Conveyancing Panel. Can I still retain my family solicitor even though they are excluded from the panel?
The limited options open to you here include:
- Carry on with your preferred Pimlico solicitors but will need to retain a conveyancer on their panel. This will inevitably rack up the total legal charges as well as result in delays.
- Choose an alternative practitioner to act in the purchase, remembering to check they are len approved.
- Persuade your solicitor to try to join the len panel
My friend suggested that if I am buying in Pimlico I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Pimlico conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Pimlico around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Pimlico Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Pimlico Education with plans and statistics, Local Amenities and other useful data regarding Pimlico.