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

It’s unusual for properties in Corfe Castle and has limited impact for conveyancing in Corfe Castle 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 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 will be extinguished.

I have 71 years unexpired on my lease and need a lease extension for my apartment in Corfe Castle. Conveyancing solicitors on the Virgin panel can deal with such extensions correct?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/7/2024 the requirements read as follows :

Is it necessary to take out insurance to cover chancel repairs when buying a property in Corfe Castle?

Unless a prior purchase of the property took place post 12 October 2013 you may take it that lawyers delivering conveyancing in Corfe Castle to continue to suggest a chancel search and or insurance against a claim.

How does conveyancing in Corfe Castle differ for newly converted properties?

Most buyers of new build property in Corfe Castle contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Corfe Castle tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Corfe Castle or who has acted in the same development.

I am downsizing from my home. My former lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Corfe Castle if that makes things easier.

Do use our search tool to help you choose a solicitor for your conveyancing in Corfe Castle. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.