I purchased a freehold premises in Pentre Halkyn but still pay rent, why is this and what is this?

It is rare for properties in Pentre Halkyn and has limited impact for conveyancing in Pentre Halkyn 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 post 1977.

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

I have been recommended a conveyancing solicitor in Pentre Halkyn. I I would like to check if they are accepted on the Barclays conveyancing panel. Could you or the lender confirm if they are on the panel?

The first thing to do is contact the solicitor and enquire if they are on the lender panel. Otherwise you can call Barclays who may be able to confirm.

My wife and I are purchasing a flat in Pentre Halkyn. I might seem paranoid but how we can trust a solicitor? At some point we will need to put funds into their account. What is the protection we have from them run away with our money?

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.

Two weeks ago we had a mortgage agreed in principle with Leeds Building Society. Pentre Halkyn conveyancing lawyers are selected. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?

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

I have finally had an offer on an apartment in Pentre Halkyn accepted, but there is a chain. The sellers have offered on a flat, but it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in Pentre Halkyn. What should be my next step? When do I get the mortgage application with Yorkshire BS started?

It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Pentre Halkyn conveyancing search costs, etc). First, you should check that your conveyancer is on the Yorkshire BS conveyancing panel. Concerning the next phase this very much depends on the specifics of your case, motivation for this property and on the state of the market. In a buoyant market the majority of buyers would apply for the mortgage with Yorkshire BS and pay for the valuation and only if it was satisfactory would they ask their solicitor to proceed with the conveyancing in Pentre Halkyn.

It has been three months since my purchase conveyancing in Pentre Halkyn took place. 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 asset 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.

Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Pentre Halkyn. I need to get lease extension but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent may be helpful to carry out a search and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Pentre Halkyn.

I invested in buying a leasehold flat in Pentre Halkyn, conveyancing formalities finalised March 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Pentre Halkyn with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ceases on 21st October 2075

With 50 years unexpired the likely cost is going to span between £31,400 and £36,200 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.