I purchased a freehold residence in Shildon yet pay rent, why is this and what is this?

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

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

My conveyancer has informed me that lack of right of way insurance is necessary on my purchase. What is the level of cover for Shildon conveyancing?

The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such insurances.

The formalities of my remortgage has taken place for my property in Shildon. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?

Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.

Co-operative have agreed my mortgage in principle, my offer on a apartment in Shildon has been agreed to, what happens next?

Your property agent will need to know who your solicitors are (be sure the property lawyers are on the bank’s panel). Telephone Co-operative or your financial adviser and complete any appropriate forms. Co-operative will sellect a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes about a fortnight to receive the mortgage offer. Co-operative will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Shildon.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Shildon is where the house is located. Can you offer any advice?

Flying freeholds in Shildon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shildon you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shildon may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

Hoping to buy a property located in Shildon and I am already nervous. I couldn't find anything specific about Shildon. Conveyancing will be needed in due course but do you know about the Shildon area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Shildon. In the meantime here are some basic statistics that we found

I am thinking of appointing a conveyancing lawyer in Shildon for my house move. Is there any facility to review a firm’s record with the legal regulator?

Members of the public can read presented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.