I purchased a freehold premises in Bebington but nevertheless pay rent, why is this and what is this?

It is rare for properties in Bebington and has limited impact for conveyancing in Bebington 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 creation of new rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

I am looking for a leasehold apartment up to £195,000 and identified one close by in Bebington I like with open areas and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Bebington in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

Should you require a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.

Taking into account that I will soon spend over three hundred thousand on a property in Bebington I wish to talk to a conveyancer regarding theconveyancing before instructing the firm. Is this something that you can arrange?

This is something that we recommend - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer who will be doing your conveyancing in Bebington.There is no ‘factory style conveyancing’ - each client is unique individual, not a case number. The solicitors that we put you in touch with believe that the figure you are provided with for residential conveyancing in Bebington should be the amount on the final invoice that you are charged.

In searching the world wide web for the words on line conveyancing in Bebington it reveals many property lawyersin the vicinity. How do I determine which is the suitable conveyancer for the sale of my house?

The ideal method of choosing a suitable conveyancer is via trusted testimonial, so seek the counsel of friends and family who have bought a property in Bebington or a reputable estate agent or mortgage broker. Fees for conveyancing in Bebington vary, so it's a good idea to request at least four costs illustrations from varying types of solicitors. Be sure to obtain confirmation that the charges are guaranteed not to rise.

I am a negotiator for a long established estate agency in Bebington where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Bebington conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Bebington Leasehold Conveyancing - A selection of Queries before buying

How much is the ground rent and service charge? Best to be warned whether window replacement or some other major work is pending that will be shared between the leasehold owners and will dramatically impact the level of the service charges or require a one time payment. This information is useful as a) areas may result in problems for the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to know about it