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

It is rare for properties in Middlesbrough and has limited impact for conveyancing in Middlesbrough 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 fresh rentcharges from 1977 onwards.

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

I just acquired a property at auction in Middlesbrough. Conveyancing is necessary. What is next?

Having for in every practical sense signed on the dotted line you will need to choose a conveyancing solicitor as a matter of urgency as you are facing a tight a fixed date to complete the transaction. All auction property will ordinarily have an associated auction pack. This should include most,if not all of the paperwork that your lawyer requires. In the case of leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You must hand this to the conveyancer working for you at the earliest opportunity. Do make sure that that you have the requisite funding organised to complete on the on the contractual date .

When it comes to mortgage companies such as Barclays, do Middlesbrough solicitors face an annual charge to be on the conveyancing panel?

We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

Is it the case that all Middlesbrough solicitor practices on the Yorkshire BS conveyancing panel are overseen by the SRA?

As a firm of solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel and in such a situation the practice would be regulated by the Council of Licensed Conveyancers.

Various online forums that I have visited warn that are the number one cause of obstruction in Middlesbrough house deals. Is this right?

The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Middlesbrough.

I am buying my first flat in Middlesbrough with a loan from Accord Mortgages Ltd. The builders refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not disclose to my conveyancer about this extras as it would impact my mortgage with Accord Mortgages Ltd. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I was advised by a number of estate agents in Middlesbrough to locate a solicitor on your site. What’s the financial upside for Estate Agents to recommend your lawyers over and above another?

We don’t make any commission for pointing buyers and sellers to this site. We thought it would be too underhand a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.