I purchased a freehold property in Baildon but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Baildon and has limited impact for conveyancing in Baildon 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 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 will be extinguished.

My husband and I wish to acquire a newly converted apartment in Baildon with a residential mortgage from HSBC Bank.We would like to retain our Baildon conveyancing solicitor but HSBC Bank informed us his firm is not listed on their "panel". We have to appoint a HSBC Bank panel solicitor or retain our local solicitor and pay for a HSBC Bank panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that HSBC Bank use our lawyer?

Unfortunately,no. The home loan issued to you contains various provisions, a common one being that lawyers must be on the HSBC Bank conveyancing panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for HSBC Bank

Just had an offer accepted on a new build apartment in Baildon. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Baildon

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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.

What makes a Baildon lease problematic?

Leasehold conveyancing in Baildon is not unique. Most leases are drafted differently and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

A provision to repair to or maintain parts of the building

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I invested in buying a garden flat in Baildon, conveyancing was carried out December 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Baildon with an extended lease are worth £206,000. The ground rent is £45 yearly. The lease expires on 21st October 2091

With only 66 years unexpired we estimate the premium for your lease extension to range between £12,400 and £14,200 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

My folks are unable to locate their Baildon land registry title on the website. They recall that back in the 70’s when they purchased the house there were complications regarding Baildon not being identified on some systems.

The vast majority of premises in Baildon should be revealed. Have you limited your search to just the postcode. Ordinarily it should identify all the premises inside that postcode. Assuming the property is recorded it will show up with a title number. Where they bought back in the 60’s it's conceivable it may be unregistered. The address might still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title deeds which may be with your parent’s lender.