I purchased a freehold property in Beaufort but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Beaufort and has limited impact for conveyancing in Beaufort 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

Do I need to visit the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Beaufort so that I can pop in to their offices when needed.

As opposed to 15 years ago, the vast majority banks no longer require their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over ID documents and there are still manifest advantages to choosing a local practitioner, in your situation a conveyancing solicitor in Beaufort.

I used Arc property Solicitors a few years ago for my conveyancing in Beaufort. I now require my file however cannot find the solicitor. What do I do?

Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Beaufort of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

Due to the advice of my in-laws I had a survey completed on a property in Beaufort prior to retaining lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks tend not issue a mortgage on a flying freehold property.

It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Beaufort. Conveyancing will be smoother if you use a solicitor in Beaufort especially if they are accustomed to such properties in Beaufort.

I am attracted to a couple of flats in Beaufort which have in the region of fifty years left on the lease term. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorates and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena.

Beaufort Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

Does this lease have in excess of 85 years remaining? It would be wise to discover as much as possible about the company managing the building as they can either make your life much easier or problematic. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the tidiness of the communal areas. Don't be shy to ask other people whether they are happy with their management. In conclusion, investigate as to the dates that the service fees are due to the appropriate party and specifically how they are spending that money. It is important to be aware whether redecorating or some other major work is anticipated that will be shared by the leaseholders and will dramatically impact the level of the service costs or require a one off payment.