I own a freehold house in Arnold but nevertheless pay rent, why is this and what is this?

It is rare for properties in Arnold and has limited impact for conveyancing in Arnold 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 establishment of new rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

What is the difference between a licensed conveyancer and conveyancing solicitor in Arnold

Two types of professional can conduct conveyancing in Arnold namely licenced conveyancers or solicitors. Both professionals provide the legal services that required to complete the sale or acquisition of property. They are both required to handle Arnold conveyancing on similar quality and guidelines so you may be safe in the knowledge that your conveyancing will be professionally administered and that all requirements and steps should be appropriately taken.

I'm the single beneficiary of my late father’s will and I have everything in my name now, including the house in Arnold. Conveyancing formalities meant that the Land Registry date was in February. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the house in February. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How practical a view banks take of it, depend on the mortgage company as this provision is primarily there to pick up on subsales or the wholesaling and assigning of property.

The formalities of my purchase has taken place for my property in Arnold. 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 point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.

Is it best to choose a Arnold conveyancing solicitor based in the area that I am hoping to buy? We have a good friend who can execute the legal formalities however his firm is located 400miles drive away.

The benefit of a high street Arnold conveyancing practice is that you can pop in to execute documents, hand in your identification documents and pester them if necessary. Having local Arnold know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and they were happy that must outweigh using an unknown Arnold conveyancing solicitor solely due to them being Arnold based.

Due to sign contracts shortly on a garden flat in Arnold. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Arnold should include some of the following:

It needs to be made clear to you if the lease allows you to alter or improve anything in the flat- you should be made aware as to whether it applies to all alterations or just structural alteration, and whether licences for alterations is required What you can do if another leaseholder in the building is in violation of a provision in their lease? Are you allowed to have a pet in the flat? Changes to the premises

I invested in buying a 2 bed flat in Arnold, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Arnold with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2093

With only 68 years left to run the likely cost is going to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Having used your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?

Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.