I am the registered owner of a freehold residence in New Romney but nevertheless pay rent, why is this and what is this?

It is rare for properties in New Romney and has limited impact for conveyancing in New Romney 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 establishment of new 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 extinguished.

What is the difference between a licensed conveyancer and conveyancing solicitor in New Romney

There are many recorded licenced Conveyancers in New Romney and Solicitor practices in New Romney to choose from It is important to make clear that both are regulated professionals specialising in the legal aspects of transferring property. The two can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

Can you point me to a directory of panel conveyancers in New Romney on the Council of Mortgage Lender’s Website?

No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings visible on the web. Where you are looking for a New Romney on the please use our facility.

We have a mortgage agreed in principle with . New Romney conveyancing lawyers were instructed. How long does it take for to issue the offer to the ?

There is no definitive answer here. Have conducted the survey? Have you informed as to your lawyers' details and checked that your lawyers are on the conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

Due to the encouragement of my in-laws I had a survey completed on a property in New Romney prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some lenders will refuse to issue a loan on a flying freehold premises.

It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in New Romney. Conveyancing may be slightly more expensive based on your lender's requirements.

I acquired a 2 bed flat in New Romney, conveyancing was carried out 3 years ago. How much will my lease extension cost? Equivalent flats in New Romney with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 50

You have 50 years left to run the likely cost is going to be between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

I am due to review costs for conveyancing in New Romney from three and decide on one. Am I right to get them to sit tight until I have found somewhere to purchase.

You should wait to ask your to commence work and apply for searches after the sales memorandum has been issued by the estate agent especially as New Romney conveyancing searches are a couple of hundred pounds.