I own a freehold house in Castle Bromwich yet charged rent, why is this and what is this?

It is rare for properties in Castle Bromwich and has limited impact for conveyancing in Castle Bromwich 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 from 1977 onwards.

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

My lender has suggested a law firm on their panel based in Castle Bromwich but I would rather use a conveyancing lawyer in Castle Bromwich or nearer to where I live. Are you able to assist?

Far from all Castle Bromwich conveyancing firms are on all banks conveyancing panel. Do make the most of our search tool to identify a Castle Bromwich conveyancing conveyancer on the on the lender panel.

I am purchasing a property and the lawyer has raised the issue of Chancel Repair for which the property could be liable given it’s proximity to the area of such a church. He has suggested insurance. Is this really necessary for conveyancing in Castle Bromwich

Unless a previous purchase of the property completed after 12 October 2013 you could take it that solicitors delivering conveyancing in Castle Bromwich to continue to recommend a chancel search and or insurance against a claim.

Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who dealt with the conveyancing in Castle Bromwich 4 years ago no longer exist. What are my next steps?

In today’s world there are copies made of almost everything, and your lawyer should know precisely where to look for all the relevant documentation so you can buy or sell your property without any difficulty. Where copies are not available, your conveyancer may be able to put in place insurance or indemnities protecting you against possible claims on the premises.

What makes a Castle Bromwich lease problematic?

There is nothing unique about leasehold conveyancing in Castle Bromwich. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party. A provision to repair to or maintain elements of the property

You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Barnsley Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I bought a split level flat in Castle Bromwich, conveyancing having been completed December 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Castle Bromwich with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2077

With 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.