I am the registered owner of a freehold premises in Cottingham but still charged rent, why is this and what is this?

It’s unusual for properties in Cottingham and has limited impact for conveyancing in Cottingham 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 creation of new 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 post 2037 will be extinguished.

My aunt pointed out to me me that in purchasing a property in Cottingham there may be a number of restrictions prohibiting external changes to a property. Is this right?

There are a number of properties in Cottingham which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Cottingham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

We are planning to move property in December. Does my conveyancing solicitor update the removal company on the completion day. Incidentally, can you suggest a removal company in Cottingham. Conveyancing lawyer was organised before I stumbled across this website.

On the afternoon of completion you can collect the keys from your selling agent however this should only happen when the vendors solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be given over. You will need to advise the removal men that they can start moving you in. We are not in a position to recommend a particular removal organisation but can assist you in locating a conveyancing in Cottingham or a firm that specialises in conveyancing in Cottingham.

When it comes to mortgage companies such as Santander, do Cottingham lawyers have to pay a fee to be on the conveyancing panel?

We are not aware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.

I am buying my first flat in Cottingham with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of extras instead. The house builders rep advised me not inform my solicitor about this side-deal as it will jeopardize my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

How simple is it to use your search tool to select a conveyancing solicitor in Cottingham on the authorised to act for my mortgage?

1st choose a lender such as Barclays , Leeds Building Society or Aldermore then specify your preferred area a common one being Cottingham. Conveyancing firms in Cottingham and across England and Wales will then be identified.

I am employed by a reputable estate agent office in Cottingham where we see a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Cottingham conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I invested in buying a ground floor flat in Cottingham, conveyancing having been completed March 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Cottingham with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2099

With only 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. 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 should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.