I purchased a freehold property in Oswestry but still charged rent, why is this and what is this?

It is rare for properties in Oswestry and has limited impact for conveyancing in Oswestry 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 fresh rentcharges post 1977.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

My house in Oswestry is up for sale and I have a purchaser. Does my solicitor have to be required to be on the Skipton conveyancing panel in order to deal with redeeming my mortgage?

Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.

Are there restrictive covenants that are commonly identified as part of conveyancing in Oswestry?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Oswestry. 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…’

In searching the web for the term cheap conveyancing in Oswestry it shows results of numerous solicitorsin the vicinity. How do I determine which is the suitable conveyancer for my move?

The ideal method of seeking the right conveyancer is via personal referral, so ask colleagues and those you trust who have purchased a property in Oswestry or the reputable estate agent or mortgage broker. Charges for conveyancing in Oswestry differ, so it's a good idea to request at least four quotes from different law firms. Dont forget to clarify what costs in the quote includes.

I wish to sublet my leasehold flat in Oswestry. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Oswestry do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I invested in buying a split level flat in Oswestry, conveyancing formalities finalised in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Oswestry with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2095

With 70 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.