I purchased a freehold property in Huntingdon but nevertheless pay rent, why is this and what is this?

It is rare for properties in Huntingdon and has limited impact for conveyancing in Huntingdon 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.

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

How does conveyancing in Huntingdon differ for new build properties?

Most buyers of new build residence in Huntingdon approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is built. This is because developers in Huntingdon tend to purchase 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 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 used to new build conveyancing in Huntingdon or who has acted in the same development.

I decided to have a survey done on a house in Huntingdon before appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks tend not issue a loan on a flying freehold property.

It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Huntingdon. Conveyancing may be slightly more expensive based on your lender's requirements.

My father-in-law has suggested that I use his lawyers for conveyancing in Huntingdon. Do I follow his recommendation?

Much as we are happy to recommend a Huntingdon conveyancing lawyer it’s preferable to find a conveyancing practitioner is to have recommendations from friends or relatives who have used the firm you're considering.

Is it true that a Huntingdon conveyancing solicitor got sued by a client for not carrying out the right conveyancing searches?

Our attention has not be brought to such a Huntingdon conveyancing matter but according to a recent report, a couple purchasing a property elsewhere in England successfully sued their lawyer as a consequence of development permission to erect a wind farm not being picked up in conveyancing searches.

Where you are buying in Huntingdon It is critical that your property lawyer carry out all Huntingdon conveyancing searches required to ensure you have accurate and up to date information before acquiring a property.