I am the registered owner of a freehold premises in Stourbridge but still pay rent, why is this and what is this?

It’s unusual for properties in Stourbridge and has limited impact for conveyancing in Stourbridge 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 new rentcharges from 1977 onwards.

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

Are the BSA planning on creating a searchable register to to identify law firms on the Loughborough BS conveyancing panel for example in Stourbridge?

Lexsure has not been advised of any plans on the part of the BSA to promote such a tool.

I am buying my first flat in Stourbridge with the aid of help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about this side-deal as it will affect my mortgage with Aldermore. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.

Do you have any top tips for leasehold conveyancing in Stourbridge from the perspective of expediting the sale process?

• Much of the delay in leasehold conveyancing in Stourbridge can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers’ solicitors.
Some Stourbridge leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled. Many freeholders or Management Companies in Stourbridge levy fees for supplying management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Stourbridge. You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

I invested in buying a split level flat in Stourbridge, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Stourbridge with a long lease are worth £206,000. The ground rent is £45 yearly. The lease terminates on 21st October 2091

With 66 years unexpired the likely cost is going to range between £11,400 and £13,200 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

I am in the market for an affordable conveyancing solicitor in Stourbridge to buy a home. I I am concerned about being overcharged but with so many Stourbridge conveyancing organisations out there...who do I opt for?

An independent personal recommendation via a person who has instructed a conveyancing lawyer before is always a good thing. You are likely to know someone who has used a conveyancing lawyer at some point. Feel free to make the most of our tool to compare Stourbridge conveyancing quotes