I own a freehold property in Barnet but still pay rent, why is this and what is this?

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

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

My partner and I are close to exchanging contracts on the sale of our house in Barnet and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers used a factory type conveyancing practice as opposed to a conveyancing solicitor in Barnet. Having lived in Barnet for 5 years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification that there is no issue.

It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Barnet is the location of the property. What do you suggest?

Flying freeholds in Barnet are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barnet you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnet may determine 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 property.

My step-father has encouraged me to use his conveyancing solicitors in Barnet. Should I choose my own conveyancer?

There are no two ways about it the best way to find a conveyancing practitioner is to seek guidance from friends or family who have used the solicitor you're contemplating using.

I am a negotiator for a long established estate agency in Barnet where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Barnet conveyancing firms. Can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Barnet. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Lease Extension decision for a Barnet property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The number of years remaining on the existing lease(s) was 76 years.