I am the registered owner of a freehold residence in Shotton but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Shotton and has limited impact for conveyancing in Shotton 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

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

Do the Building Society Association intend to launch a searchable register to list firms on the Earl Shilton BS conveyancing panel for instance in Shotton?

We have not been informed any plans on the part of the BSA to develop such a register.

When it comes to mortgage companies such as Aldermore, do Shotton solicitors incur an annual charge to be on the list of approved solicitors?

We are unaware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.

I had an offer accepted on an apartment in Shotton on 16/1/2025, valuation was booked 2 days after, all came back fine. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?

A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.

RBS have agreed my mortgage in principle, my offer on a flat in Shotton has been accepted, what happens next?

Your estate agent will need to be advised as to your solicitor's details (ensure that the property lawyers are on the bank’s approved list). Call up RBS or your financial adviser and finish off any relevant paperwork. RBS will appoint a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately a week to get a mortgage offer. RBS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shotton.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Shotton is the location of the property. Can you shed any light on this issue?

Flying freeholds in Shotton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shotton you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shotton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

What makes a Shotton lease defective?

Leasehold conveyancing in Shotton is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

Clauses dealing with recovering service charges for expenditure on the building or common parts. A provision to repair to or maintain elements of the premises

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Shotton - A selection of Questions you should ask before Purchasing

Where a Shotton lease has less than 80 years it will impact the value of the flat. Check with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for two years before you are legally able to exercise a lease extension. Is anyone aware of any major works in the near future that will likely add a premium to the maintenance costs? Does the lease have onerous restrictions?