I own a freehold residence in Buckfastleigh and Dean yet charged rent, why is this and what is this?

It’s unusual for properties in Buckfastleigh and Dean and has limited impact for conveyancing in Buckfastleigh and Dean 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 creation of new rentcharges from 1977 onwards.

Old 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 dispensed with completely.

We're in Buckfastleigh and Dean, First time buyers buying with a mortgage (lender is TSB , and our solicitor is on the TSB conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

I know that there are debates on Chancel Insurance on online forums. Do I need this when buying a residence in Buckfastleigh and Dean? or I am told that there is a law dating back centuries that could mean that homeowners living in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this a legitimate concern for conveyancing in Buckfastleigh and Dean?

Unless a previous acquisition of the premises completed post 12 October 2013 you can expect lawyers carrying out conveyancing in Buckfastleigh and Dean to remain encouraging a chancel search and or chancel repair liability insurance.

I opted to have a survey completed on a house in Buckfastleigh and Dean before retaining solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some lenders will refuse to grant a loan on this type of property.

It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Buckfastleigh and Dean. Conveyancing will be smoother if you use a solicitor in Buckfastleigh and Dean especially if they regularly deal with such properties in Buckfastleigh and Dean.

Please set out some of compelling benefits to instructing a high street property lawyer in Buckfastleigh and Dean

Many buyers and sellers in Buckfastleigh and Dean opt for a local conveyancing practitioner so that they can attend the lawyer’s offices just in case they have concerns, and to sign paperwork rather than relying on the Royal Mail.

We would argue that there is a marginal benefit in using a solicitor local to a premises you are purchasing, due to the in-depth knowledge of the region and potential local concerns - however this is debatable. Most conveyancers carry out their communications over the internet and may be anywhere in the world.