I am the registered owner of a freehold premises in Whissendine but still pay rent, why is this and what is this?

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

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.

Should commercial conveyancing searches disclose planned roadworks that could affect a commercial site in Whissendine?

Many commercial conveyancing solicitors in Whissendine will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Whissendine. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Whissendine.

For each commercial conveyancing transaction in Whissendine it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Whissendine commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Whissendine.

Are there restrictive covenants that are commonly identified during conveyancing in Whissendine?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Whissendine. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

How does conveyancing in Whissendine differ for new build properties?

Most buyers of new build residence in Whissendine contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Whissendine tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Whissendine or who has acted in the same development.

I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Whissendine is the location of the property. Can you offer any assistance?

Flying freeholds in Whissendine are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whissendine 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 Whissendine 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 residence.