I own a freehold residence in Ruthin but still pay rent, why is this and what is this?

It’s unusual for properties in Ruthin and has limited impact for conveyancing in Ruthin 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 creation of fresh rentcharges from 1977 onwards.

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

Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Ruthin?

There are two types of lawyers who can do conveyancing in Ruthin namely licenced conveyancers or solicitors. The two can administer conveyancing services that required to complete the sale or acquisition of property. They are both required to conduct Ruthin conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that the requirements and steps will be accurately followed.

We had appointed solicitors locally in Ruthin on the Yorkshire BS solicitor panel. They are now charging me an additional charge for the legal aspects of the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?

Provided it is contained in their Terms of Engagement or estimate then yes your solicitor may levy a fee for this. This charge is not dictated by Yorkshire BS but by your Ruthin solicitor. Plenty of firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee and others do not.

My offer was accepted on a house in Ruthin on 23/2/2024, valuation was booked 2 days later, received a clean bill of health. Property lawyer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Are Aldermore entitled to hold back the Mortgage pending the lawyer being on the approved list?

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.

I require quick conveyancing in Ruthin as I am under a deadline to complete within 2 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?

As you are are a cash purchaser you are at free not to do searches although no conveyancer would advise that you don't. Drawing on years of experience of conveyancing in Ruthin the following are instances of what can appear and therefore impact the marketability of the property: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...

Am I better off to instruct a Ruthin conveyancing practitioner who is local to the property I am purchasing? We have a good friend who can conduct the conveyancing but his firm is located 200miles away.

The primary upside of using a local Ruthin conveyancing practice is that you can visit the firm to sign documents, hand in your identification documents and pester them where appropriate. Having local Ruthin know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that must outweigh using an unknown Ruthin conveyancing solicitor just because they are based in the area.

Last December I purchased a leasehold house in Ruthin. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I invested in buying a 1 bedroom flat in Ruthin, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Ruthin with a long lease are worth £201,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2089

With just 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.