I purchased a freehold property in Ivybridge but still charged rent, why is this and what is this?

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

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.

I am considering applying for a Skipton mortgage for purchase of a newly converted (under development) in Ivybridge with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Skipton ?

There is nothing to stop you using your solicitor, but Skipton will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

Due to the input of my in-laws I had a survey completed on a property in Ivybridge prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some banks may refuse to issue a mortgage on a flying freehold property.

It depends who your proposed lender is. Santander has different instructions from Halifax. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ivybridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ivybridge to see if the conveyancing costs will increase in light of this.

My father has suggested that I instruct his conveyancing solicitors in Ivybridge. Should I choose my own solicitor?

Much as we are happy to recommend a Ivybridge conveyancing lawyer the best way to select a conveyancing lawyer is to seek guidance from friends or family who have previously instructed the conveyancer you're contemplating using.

I need to swap lawyers as my Ivybridge lawyer is not on the mortgage company's panel of conveyancing solicitors. How simple is it to change conveyancer?

In the event that you have not formally appointed a solicitor to commence the conveyancing and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Ivybridge that you're thinking of instructing.