I purchased a freehold residence in Rocester yet charged rent, why is this and what is this?

It’s unusual for properties in Rocester and has limited impact for conveyancing in Rocester 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 after 2037 will be dispensed with completely.

I am buying a terraced house in Rocester. Can I do my own conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Rocester you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Rocester.

Due to the advice of my in-laws I had a survey completed on a property in Rocester prior to instructing lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks will not issue a mortgage on this type of home.

It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rocester. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rocester to see if the conveyancing costs will increase in light of this.

Should I go with a Rocester conveyancing practitioner who is local to the property I am hoping to buy? I have an old university friend who can carry out the legal formalities but his firm is located 200kilometers away.

The benefit of a local Rocester conveyancing firm is that you can visit the firm to sign paperwork, hand in your identification documents and apply pressure on them where appropriate. Having local Rocester know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were content that must surpass using an unfamiliar Rocester conveyancing lawyer just because they are based in the area.

Completion is due on the disposal of our £300,000 flat in Rocester in just under a week. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Rocester?

Rocester conveyancing on leasehold flats usually results in administration charges invoiced by managing agents :

Answering pre-contract questions Where consent is required before sale in Rocester Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Rocester leasehold premises is £350. For Rocester conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I purchased a basement flat in Rocester, conveyancing having been completed April 1998. Can you work out an approximate cost of a lease extension? Similar flats in Rocester with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2078

With 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.