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

It is rare for properties in Braunton and has limited impact for conveyancing in Braunton 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 generation of new rentcharges post 1977.

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

I am buying a new build flat in Braunton. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Braunton you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Braunton.

I just bought a house at auction in Braunton. Conveyancing is required. What is next?

Given that you have now for in every practical sense signed on the dotted line you should instruct a conveyancing lawyer as a matter of priority as you are faced with a pending a fixed date to complete the conveyancing. All auction property will have a corresponding legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should pass this on to your appointed conveyancing solicitor ASAP. Do make sure that your finances are in place to complete the transaction on the set completion date.

This question may be naive but I am unseasoned as FTB of a ground floor flat in Braunton. Do I receive the keys to the house on completion from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Braunton?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s solicitors, and once they have received this, you will be able to pick up the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.

We expect to receive a OIP from Nationwide this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Braunton solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Braunton solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.

I own a renovated Victorian house in Braunton. Conveyancing solicitor acted for me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??

You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Braunton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing practitioner who completed the work.

Planning to sign contracts shortly on a ground floor flat in Braunton. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Braunton should include some of the following:

Setting out your rights in respect of common areas in the building.By way of example, does the lease permit a right of way over a path or staircase? You would want to be sent a copy of the lease Do you need to have carpet in the flat or are you allowed wood flooring? The length of the lease term. You should receive guidance as what happens when the lease expires, and informed of the importance of the 80 year mark

I inherited a basement flat in Braunton, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Braunton with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2080

With just 55 years left to run we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.