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

It’s unusual for properties in Cambourne and has limited impact for conveyancing in Cambourne 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 redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Cambourne is the location of the property. Is there any guidance you can give?

Flying freeholds in Cambourne are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cambourne you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cambourne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I have been pointed in your direction by two or three local selling agents in Cambourne to get a quote from a conveyancer on your site. Is there a financial advantage for Estate Agents to market your services ahead of another?

We refuse to give any financial incentive for sending work our way. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.

Cambourne Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

How many years are left on the lease? Are any of leasehold owners in arrears of their service charge liability? What is the name of the managing agents?

I'm buying a apartment in Cambourne. I have found my conveyancer's company on the Law Society's list, but I can't find my conveyancer's name as listed on the regulator's website. Should I be concerned?

Not all staff in the company must be listed by the regulator. Provided there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unqualified staff.