I am the registered owner of a freehold house in Canary Wharf but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Canary Wharf and has limited impact for conveyancing in Canary Wharf 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 generation of fresh rentcharges from 1977 onwards.

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

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Canary Wharf is the location of the property. What do you suggest?

Flying freeholds in Canary Wharf are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Canary Wharf you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Canary Wharf 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 residence.

In my capacity as executor for the will of my grandmother I am disposing of a property in Newport but I am based in Canary Wharf. My lawyer (based 260 miles from meneeds me to execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in Canary Wharf who can witness this legal document for me?

strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are Canary Wharf based

I am a negotiator for a long established estate agency in Canary Wharf where we have experienced a number of leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Canary Wharf conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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.

Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Canary Wharf. Can we issue an application to the Residential Property Tribunal Service?

if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the sum to be paid.

An example of a Freehold Enfranchisement decision for a Canary Wharf flat is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The remaining number of years on the lease was 101.61 years.

I am just shy of a 10% deposit on my flat purchase in Canary Wharf , but I am anxious proceed. Do I have options?

One option is to try and agree a lesser deposit. Most sellers will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute