I am the registered owner of a freehold residence in Fairbourne but still pay rent, why is this and what is this?

It is rare for properties in Fairbourne and has limited impact for conveyancing in Fairbourne 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 generation of fresh rentcharges post 1977.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

I am looking to buy a property and require a conveyancing solicitor in Fairbourne who is on the Santander conveyancing. Could you point me in the right direction as regards a solicitor?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Santander in certain locations such as Fairbourne. We dont recommend any particular firm.

I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, no chain conveyancing. Fairbourne is the location of the property. Is there any advice you can impart?

Flying freeholds in Fairbourne 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 Fairbourne you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fairbourne may decide 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 residence.

We're new to the buying process - had an offer accepted, yet the selling agent told us that the vendor will only proceed if we instruct the agent's preferred lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a local solicitor with experience of conveyancing in Fairbourne

We suspect that the owner is not behind this requirement. Should the vendor require ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make sure they understand (a)you are serious buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you are going to appoint your preferred Fairbourne conveyancing firm - not the ones that will give the negotiator at the agency a kickback or meet his conveyancing thresholds set by corporate headquarters.

What are your top tips when it comes to choosing a Fairbourne conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Fairbourne conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non Fairbourne conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:

If they are not ALEP accredited then what is the reason? How many lease extensions has the firm carried out in Fairbourne in the last twenty four months?

Leasehold Conveyancing in Fairbourne - Examples of Questions you should ask Prior to Purchasing

How much is the service charge and ground rent on the property? It is important to be aware if fixing the lift or some other significant cost is due in the foreseeable future that will be shared between the leasehold owners and will dramatically impact the level of the maintenance charges or result in a one time payment. How is the lease structured?