I own a freehold house in Shenley Brook End but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Shenley Brook End and has limited impact for conveyancing in Shenley Brook End 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 generation of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

I'm purchasing a new build house in Shenley Brook End with the aid of help to buy. The sellers refused to budge the amount so I negotiated £7000 of extras instead. The sale representative told me not reveal to my conveyancer about this deal as it could put at risk my mortgage with Halifax. Should I keep quiet?.

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.

Due to the input of my in-laws I had a survey completed on a property in Shenley Brook End in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some lenders may refuse to issue a mortgage on such a house.

It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shenley Brook End. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shenley Brook End to see if the conveyancing will be more expensive.

Is it best to use a Shenley Brook End conveyancing solicitor based in the area that I am purchasing? I have an old university friend who can perform the legal work but her office is approximately 350miles drive away.

The primary upside of using a local Shenley Brook End conveyancing practice is that you can attend the office to sign paperwork, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and the majority were content that must surpass using an unknown Shenley Brook End conveyancing solicitor just because they are Shenley Brook End based.

Planning to sign contracts shortly on a garden flat in Shenley Brook End. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Shenley Brook End should include some of the following:

The unexpired lease term. You should receive guidance as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years The physical extent of the premises. This could be the property itself but may incorporate a roof area or storage are if relevant. Does the lease require carpeting throughout thus preventing wood flooring? What options are open to you if a neighbour is in violation of a provision in their lease?

I purchased a ground floor flat in Shenley Brook End, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Corresponding flats in Shenley Brook End with an extended lease are worth £180,000. The ground rent is £65 invoiced annually. The lease terminates on 21st October 2083

With just 58 years left to run we estimate the price of your lease extension to range between £22,800 and £26,400 plus costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.