I purchased a freehold property in Brierley Hill but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Brierley Hill and has limited impact for conveyancing in Brierley Hill 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.

Old 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 extinguished.

My husband and I are purchasing a newly converted apartment in Brierley Hill with a residential mortgage from Coventry Building Society.We use our Brierley Hill conveyancing lawyer but Coventry Building Society advised that her practice is not on their approved list of firms. It seems we have little choice but to instruct a Coventry Building Society panel firm or retain our high street solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Coventry Building Society use our lawyer?

No, not really. The loan offered to you contains terms and conditions, one of which will be that conveyancers must be on the Coventry Building Society approved list. in the past, most banks 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Coventry Building Society

How simple is it to swap solicitor as I need to select a firm on the Aldermore conveyancing panel. I was using a local conveyancing solicitor in Brierley Hill round the corner but he is not accepted by Aldermore

We will our best to assist in finding you a conveyancing solicitor in Brierley Hill on the Aldermore panel. Please note that the law firms that we on the directory do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Brierley Hill. In making use of the find a conveyancing solicitor tool on this site, you can contrast fees for conveyancing solicitors in Brierley Hill and throughout England and Wales.

In my capacity as executor for the will of my grandfather I am disposing of a house in Monmouth but live in Brierley Hill. My solicitor (based 250 miles awayrequires that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing solicitor in Brierley Hill who can witness this legal document for me?

Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in Brierley Hill

I am attracted to a couple of flats in Brierley Hill both have about forty five years left on the lease term. should I be concerned?

There are plenty of short leases in Brierley Hill. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field.

I invested in buying a ground floor flat in Brierley Hill, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Brierley Hill with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2075

With just 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues 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 getting professional advice.