I purchased a freehold property in Soham yet invoiced for rent, why is this and what is this?

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

Old rentcharges can now be redeemed 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 flat at auction in Soham. Conveyancing is required. What are my next steps?

Given that you have now for in every practical sense signed on the dotted line you should instruct a conveyancing practitioner quickly as you now have a tight a drop dead date to complete the property. All auction property should have an associated auction pack. This will likely include most,if not all of the documents that your solicitor will need. If you have purchased leasehold premises the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds organised to complete on the on the contractual date .

When it comes to lenders such as UBS, do Soham lawyers have to pay a fee to be on the list of approved solicitors?

We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

I can not fathom if my mortgage offer requires a lease extension. I have called my Soham building society branch on various occasions and was informed it wasn't an issue and they will lend. My Soham conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.

The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

I'm purchasing a new build house in Soham benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of additionals instead. The estate agent told me not disclose to my conveyancer about this deal as it could adversely affect my loan with Aldermore. Do I keep my lawyer in the dark?.

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.

Due to the encouragement of my in-laws I had a survey completed on a house in Soham ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies will refuse to grant a mortgage on this type of home.

It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Soham. Conveyancing will be smoother if you use a solicitor in Soham especially if they are accustomed to such properties in Soham.

I am soon to exchange buying a property in Soham but as a result of damage from the recent storms I have negotiated recompense from the vendor of £2k by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process yet the mortgage company will not permit this. Why were they notified?

Your lawyer that is on the lender conveyancing panel is obliged to advise the bank of any amendments to the purchase amount. In the event that you were to refuse your property lawyer to notify the price change to your lender then they would have no choice but to discontinue acting for you and the lender.