I own a freehold premises in Lindfield but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Lindfield and has limited impact for conveyancing in Lindfield 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 establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel lawyer as I would much rather appoint a local conveyancing solicitor in Lindfield?
You should check but the chances are that allocate you one of their panel conveyancers if you take up the "fee-free" offer. Contact the mortgage company and check if they allow a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Lindfield.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Lindfield I like with a park and station nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Lindfield in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.