My wife and I are buying a newly built flat in Tamworth and my lawyer is advising me that she is duty bound to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to exchange and I don't want to prolong deal. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

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

It is rare for properties in Tamworth and has limited impact for conveyancing in Tamworth 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 establishment of new rentcharges post 1977.

Old 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.

About to purchase a new build flat in Tamworth. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Tamworth

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

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At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Tamworth. As opposed to estate agents and brokerage sites we do not have referral arrangements with solicitors. Many agents and online brokers 'recommend' solicitors who pay the highest per referral, as opposed to the best value conveyancing in Tamworth

I am looking at a two flats in Tamworth which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area.

I own a basement flat in Tamworth, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Tamworth with an extended lease are worth £265,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2101

You have 76 years left to run the likely cost is going to range between £8,600 and £9,800 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.