I own a freehold residence in Minera but nevertheless charged rent, why is this and what is this?

It is rare for properties in Minera and has limited impact for conveyancing in Minera 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

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

I am buying my first flat in Minera with a loan from . The sellers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my conveyancer about this extras as it may adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Minera is the location of the property. Is there any guidance you can give?

Flying freeholds in Minera are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Minera you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Minera may ascertain 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.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Minera. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Minera ?

Most houses in Minera are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Minera in which case you should be shopping around for a Minera conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.

I own a ground floor flat in Minera, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Minera with a long lease are worth £165,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 50

With only 50 years unexpired we estimate the price of your lease extension to span between £36,100 and £41,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Me and my husband have just had an offer agreed on a apartment and had an appointment on Monday with Leeds Building Society for the mortgage. They advised me that when it comes to selecting a that if they are not on their approved panel of then we will be subject to an a further fee of about two hundred pounds. This is because they would then have to appoint a solicitor to act for them in addition to the one we choose to act for ourselves and we are liable for their fees. I have requested Leeds Building Society to supply me with a list so I can obtain quotes only from their approved lawyers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?

You should ask Leeds Building Society what their criteria for panel membership is for a solicitor.Then ask the of your choice whether they fit that criteria and have they acted on mortgages for Leeds Building Society historically. Where the answer to those is yes, then just double check with Leeds Building Society. Alternatively please use our search tool and we may be able to identify a in Minera on the panel for Leeds Building Society.