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

It is rare for properties in Whitland and has limited impact for conveyancing in Whitland 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 post 1977.

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

I am buying a new build house in Whitland with the aid of help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not inform my solicitor about the side-deal as it could impact my loan with the lender. 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.

Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Whitland I like with a park and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Whitland for this price, so just wondered if I would be making a grave error buying a short lease?

Should you need a mortgage that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.

Frank (my husband) and I may need to rent out our Whitland garden flat temporarily due to a new job. We instructed a Whitland conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Even though your previous Whitland conveyancing lawyer is no longer available you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to seek permission via your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.

Leasehold Conveyancing in Whitland - Sample of Questions you should consider Prior to buying

You should be aware if it is fewer than 80 years it will affect the value of the property. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you will need to own the property for two years in order to be entitled to exercise a lease extension. The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this situation the tenants have being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. Best to be warned whether changing the roof or some other major work is anticipated that will be shared by the leaseholders and may well dramatically impact the level of the maintenance costs or necessitate a one time invoice.

Is it necessary during the course of the conveyancing process to attend the offices of the lender conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Whitland as it will be easier to pop in to their offices when needed.

Most conveyancing panel lawyers for the mortgage company undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Whitland. it would nevertheless be wise to check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.