Some advice if I may. My Corby conveyancer is advising me that he has toorder Corby conveyancing searches asthe firm are on the HSBCapproved lawyer panel. Do I not have any say here?

Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a lender your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Corby conveyancing searches.

I purchased a freehold residence in Corby yet invoiced for rent, why is this and what is this?

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

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

I am purchasing a property and need a conveyancing solicitor in Corby who is on the Birmingham Midshires approved. Could you point me in the right direction as regards a solicitor?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Birmingham Midshires in certain locations such as Corby. We dont recommend any particular firm.

I was recommended by a number of selling agents in Corby to choose a conveyancer on your site. What’s the financial incentive for Estate Agents to market your lawyers rather than a competitor’s?

We refuse to offer any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.

I work for a long established estate agent office in Corby where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Corby conveyancing firms. Please can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I own a split level flat in Corby, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Corby with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2088

With only 63 years remaining on your lease the likely cost is going to range between £16,200 and £18,600 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.