I am the registered owner of a freehold residence in Oxton but still charged rent, why is this and what is this?

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

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

What happens if my lawyer’s firm is removed from the Aldermore Conveyancing panel ahead of completing my conveyancing in Oxton?

The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

Me and my partner are buying a property in Oxton. I might seem paranoid but how we can trust a solicitor? On completion day we will need to deposit money into their account. What is the protection we have from them run away with our monies?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

I am buying a victorian detached house in Oxton. Our aim is to an extension at the rear at the property.Will the conveyancing process include checks to determine if these alterations are allowed?

Your property lawyer will review the registered title as conveyancing in Oxton can sometimes identify restrictions in the title documents which prevent certain works or necessitated the consent of another owner. Many extensions require local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these things with a surveyor ahead of any purchase.

My lawyer has informed me that lack of building regulations insurance is required on my purchase. What is the level of cover for Oxton conveyancing?

The right level of lack of building regulations indemnity insurance should be dictated by who your lender. 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 policies.

four months have elapsed since my purchase conveyancing in Oxton concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I am buying my first flat in Oxton benefiting from help to buy. The sellers refused to reduce the amount so I negotiated £7000 of extras instead. The sale representative told me not inform my solicitor about this deal as it may put at risk my mortgage with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.