I own a freehold residence in Fallowfield yet pay rent, why is this and what is this?

It is rare for properties in Fallowfield and has limited impact for conveyancing in Fallowfield 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 post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

Just bought a detached house in Fallowfield , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Fallowfield conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are concluded.

As far as conveyancing in Fallowfield registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can adjust depending on the party submitting the application, whether there are errors and whether the Land registry need to notify any other parties. Currently roughly 80% of such applications are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Historically registration is effected once the new owner has moved in to the premises therefore an expedited registration is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.

I decided to have a survey completed on a house in Fallowfield ahead of instructing lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some banks tend refuse to issue a mortgage on such a property.

It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Fallowfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Fallowfield to see if the conveyancing will be more expensive.

Last November I purchased a leasehold house in Fallowfield. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leasehold Conveyancing in Fallowfield - Sample of Questions you should consider before Purchasing

Is anyone aware of any major works anticipated that will add a premium to the maintenance costs? What is the service charge and ground rent on the flat? What prohibitions exist in the Fallowfield Lease?

We are considering instructing a web based solicitor as opposed to a Fallowfield conveyancing firm. Any advice?

There are advantages of having the option attend a local Fallowfield conveyancing solicitor such as

• signing papers same day
• sometimes being able to see someone face-to-face can make a huge difference, particularly for more complex transactions
• the ability to complain if things need to addressed

When checking estimates, look out for hidden extras. Most decent Fallowfield high street solicitors give an all-inclusive figure. Many online agents seem to offer low cost fees, but have burried 'extras' in the small print.