I purchased a freehold property in Bessacarr but still charged rent, why is this and what is this?

It’s unusual for properties in Bessacarr and has limited impact for conveyancing in Bessacarr 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 generation of fresh 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 will be extinguished.

I opted to have a survey carried out on a property in Bessacarr prior to retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend refuse to give a loan on such a house.

It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bessacarr. Conveyancing may be slightly more expensive based on your lender's requirements.

How do I use the search facility to locate a conveyancing practitioner in Bessacarr on the authorised to act for my bank?

First select a bank such as Halifax, Barnsley Building Society or Nottingham Building Society then specify your location a common one being Bessacarr. Conveyancing organisations in Bessacarr and nationally will then be shown.

Back In 2009, I bought a leasehold flat in Bessacarr. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Bessacarr who previously acted has now retired. Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Bessacarr conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I bought a studio flat in Bessacarr, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Bessacarr with a long lease are worth £197,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2080

With only 56 years unexpired the likely cost is going to range between £29,500 and £34,000 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

I am due to review estimates for conveyancing in Bessacarr from three lawyer and decide on one. Am I right to get them to hold tight until I a suitable flat to buy.

We would recommend that you wait to request your conveyancer to start work and submit searches once the offer has been accepted on the property especially as Bessacarr conveyancing searches are not cheap.