I can't travel far from Caddington. Please clarify why all Caddington solicitors aren't included on all bank panels?

Pre- 2008 most lenders displayed an approach to risk which differs from the current day. The FSA in 2010 instigated a thematic review into fraud which concluded: know the solicitors on your panel. Consequently, lenders have subsequently looked to extract more information from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Thousands of law practices have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of amount of transactions the mortgage companies set.

I own a freehold premises in Caddington but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Caddington and has limited impact for conveyancing in Caddington 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 creation of new rentcharges from 1977 onwards.

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.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Caddington?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Caddington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

We're first time buyers - had an offer accepted, yet the selling agent told us that the seller will only go ahead if we appoint their recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Caddington

It is highly unlikely the vendors are behind this. Should the vendor desire ‘a quick sale', alienating a serious buyer is going to damage their objectives. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you will continue to appoint your preferred Caddington conveyancing firm - not the ones that will earn the negotiator at the agency a kickback or achieve conveyancing figures demanded by corporate headquarters.

Last March I purchased a leasehold flat in Caddington. Am I liable to pay service charges for periods before 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).

I bought a ground floor flat in Caddington, conveyancing formalities finalised 7 years ago. How much will my lease extension cost? Comparable flats in Caddington with an extended lease are worth £190,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2085

With only 61 years remaining on your lease we estimate the premium for your lease extension to range between £19,000 and £22,000 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.