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

It is rare for properties in Boncath and has limited impact for conveyancing in Boncath 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.

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 dispensed with completely.

Can you point me to a directory of UBS panel conveyancers in Boncath on the Building Society Association’s Website?

Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few mortgage companies make their panel listings open the public online. Where you are in need of a Boncath conveyancing practitioner on the UBS please make the most of our tool.

We previously instructed solicitors locally in Boncath on the Barclays solicitor approved list. They have just invoiced me an additional charge for handling the Barclays mortgage. Is this a supplemental conveyancing fee set by Barclays?

Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. The charge is not dictated by Barclays but by your Boncath conveyancing practitioner. Some firms on the Barclays panel will charge an ‘acting for lender’ fee but some firms incorporate it on their overall fee.

It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Boncath bank branch on various occasions and was told they are content with the situation and they would lend. My Boncath conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?

The lawyer must follow the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.

I am downsizing from our house in Boncath and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Boncath lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Boncath. We have lived in Boncath for 4 years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation that the buyers are looking for.

It would appear that you have a conveyancing firm already. What do they say? 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)

The deeds to our home can not be found. The solicitors who conducted the conveyancing in Boncath 10 years ago are no longer around. What are my next steps?

You no longer need to hold title official documentation to establish that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.

What advice can you give us when it comes to appointing a Boncath conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Boncath conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Boncath conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:

What volume of lease extensions has the firm conducted in Boncath in the last year?

I bought a garden flat in Boncath, conveyancing was carried out February 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Boncath with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2101

You have 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.