I own a freehold house in Boncath but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Boncath and has limited impact for conveyancing in Boncath 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 fresh rentcharges post 1977.

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

I am considering applying for a Leeds Building Society mortgage for purchase of a newly converted (under development) in Boncath with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?

There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

My colleague suggested that where I am purchasing in Boncath I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is sometimes quoted for as part of the standard Boncath conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Boncath around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Boncath Education with plans and statistics, Local Amenities and other useful data regarding Boncath.

I am looking for a ground for flat up to £195,000 and identified one near me in Boncath I like with open areas and railway links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Boncath in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

If you need a home loan that many years will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.

I have just had an offer accepted on a leasehold flat in Boncath and the broker that we are dealing with recommended his property lawyer. They quoted £1000 including VAT and 3rd party costs. Does this sound reasonable?

Don't just go on 1 quote. One should obtain like-for-like quotes for your conveyancing in Boncath. Then select one that you are comfortable with and crucially, is on the approved list of the lender that you are sourcing your mortgage from.