I purchased a freehold premises in Tynemouth but still pay rent, why is this and what is this?

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

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

I am purchasing a property and need a conveyancing solicitor in Tynemouth who is on the Santander conveyancing. Can you recommend a local firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Santander in certain locations such as Tynemouth. We dont recommend any particular firm.

is it true that all Tynemouth conveyancing solicitors on the UBS conveyancing panel are regulated by the SRA?

As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the SRA. Some banks do permit licenced conveyancers on their panel and in such a situation the practice would be overseen by the Council of Licensed Conveyancers.

I am purchasing a property in Tynemouth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?

Given that you are obtaining a mortgage with Coventry BS your lawyer must comply with the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Coventry BS where a lease does not satisfy these requirements. The requirements relate to the installation of panels on properties nationwide and is not limited to Tynemouth.

I recently had an offer agreed on a house in Tynemouth. My mortgage broker suggested a solicitor. I paid an advanced payment of £175. Soon after, the conveyancing practitioner called me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

Over the last few months I have been searching for a flat up to £305k and found one near me in Tynemouth I like with amenity areas and railway links in the vicinity, however it only has 61 years on the lease. There is not much else in Tynemouth suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.

I note that you have a search directory identifying firms on the bank conveyancing panel. Do Tynemouth conveyancing firms pay you a referral fee if I appoint them for my own house purchase?

We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Tynemouth.