I own a freehold premises in Llanfyrnach but nevertheless pay rent, why is this and what is this?

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

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

Please help - my lawyer says that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Llanfyrnach?

The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.

We previously instructed conveyancers based in Llanfyrnach on the Co-operative solicitor approved list. They are now charging me an additional fee for the legal aspects of the Co-operative mortgage. Is this a supplemental conveyancing fee specified by Co-operative?

Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your property lawyer is entitled to charge a fee for this. The fee is not dictated by Co-operative but by your Llanfyrnach conveyancing practitioner. Numerous firms on the Co-operative panel will charge ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.

We are getting a further advance on our home loan from Lloyds as we intend to conduct alterations to our home in Llanfyrnach. Are we obliged to choose a high street Llanfyrnach solicitor on the Lloyds conveyancing panel to handle the legals?

Lloyds don't usually appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds panel.

My colleague advised me that if I am buying in Llanfyrnach I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is usually quoted for as part of the standard Llanfyrnach conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Llanfyrnach around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Llanfyrnach.

Hoping to buy a property located in Llanfyrnach and I am already nervous. I couldn't find anything specific about Llanfyrnach. Conveyancing will be needed in due course but do you know about the Llanfyrnach area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Llanfyrnach. In the meantime here are some basic statistics that we found

Having had my offer accepted I require leasehold conveyancing in Llanfyrnach. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Llanfyrnach - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I inherited a 2 bed flat in Llanfyrnach, conveyancing having been completed August 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Llanfyrnach with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2100

With 76 years left to run the likely cost is going to span between £8,600 and £9,800 as well as costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.