I purchased a freehold residence in Frinton and Walton but still invoiced for rent, why is this and what is this?

It is rare for properties in Frinton and Walton and has limited impact for conveyancing in Frinton and Walton 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 fresh rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

How does conveyancing in Frinton and Walton differ for newly converted properties?

Most buyers of new build residence in Frinton and Walton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because new home sellers in Frinton and Walton typically buy the real estate, 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 conveyancing solicitors 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 Frinton and Walton or who has acted in the same development.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Frinton and Walton is the location of the property. What do you suggest?

Flying freeholds in Frinton and Walton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Frinton and Walton you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Frinton and Walton may determine 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.

Am I right to be concerned about third parties that I am dealing with are recommending an internet conveyancing firm rather than a local Frinton and Walton conveyancing company?

As with lots of service providers, often suggestions from connections can be very helpful. Nevertheless there are numerous players in a conveyancing transaction; estate agents, financial adviser and banks may suggest conveyancers to choose. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the discretion to appoint your own conveyancer. Don't forget that the majority of lenders specify a panel list of conveyancers you are obliged to use for the lender related work in your transaction.

Please set a few of distinct benefits to instructing a high street lawyer in Frinton and Walton

A significant proportion of house movers in Frinton and Walton choose a local conveyancer so that they can visit just in case they have concerns, and to execute mortgage deeds without using the post.

We would allege that there is a slight benefit when opting for a conveyancer nearby to a premises you are purchasing, due to the in-depth knowledge of the area and possible local concerns - nevertheless this is debatable. Many conveyancers are now over the web and may be almost anywhere.