I own a freehold residence in Shaftesbury but still invoiced for rent, why is this and what is this?

It is rare for properties in Shaftesbury and has limited impact for conveyancing in Shaftesbury 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 date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.

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

We're in Shaftesbury, First time buyers purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer 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.

Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial property in Shaftesbury?

Many commercial conveyancing solicitors in Shaftesbury will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Shaftesbury. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Shaftesbury.

For every commercial conveyancing transaction in Shaftesbury it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Shaftesbury commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Shaftesbury.

I'm purchasing a new build house in Shaftesbury with a mortgage from Barclays Direct. The developers would not budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about the deal as it may put at risk my loan with the lender. Is this normal?.

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.

What advice can you give us when it comes to choosing a Shaftesbury conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Shaftesbury conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Shaftesbury conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:

Can they put you in touch with clients in Shaftesbury who can give a testimonial? How many lease extensions have they completed in Shaftesbury in the last 12 months?

I invested in buying a studio flat in Shaftesbury, conveyancing having been completed May 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Shaftesbury with over 90 years remaining are worth £197,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2079

You have 55 years remaining on your lease the likely cost is going to be between £31,400 and £36,200 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.