My husband and I are nearing an exchange on a flat in Flint Mountain and my mum and dad have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?

Your property lawyer is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.

I purchased a freehold property in Flint Mountain yet charged rent, why is this and what is this?

It is rare for properties in Flint Mountain and has limited impact for conveyancing in Flint Mountain 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

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

Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Flint Mountain is where the house is located. Can you offer any advice?

Flying freeholds in Flint Mountain are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Flint Mountain you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Flint Mountain 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.

I wish to rent out my leasehold apartment in Flint Mountain. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

The lease dictates relations between the freeholder and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Flint Mountain do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Flint Mountain Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

Is there a share of the freehold? For many Flint Mountain leaseholds the outlay for major works tend not to be incorporated into the service charges, although there some managing agents in Flint Mountain obliged leasehold owners to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance. You should be aware if it is less than 80 years it will affect the value of the flat. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will be required to have been the owner of the property for two years before you are legally able to exercise a lease extension.

What type of premises does your Flint Mountain conveyancing quotes apply to?

Our conveyancing quotes are only applicable to standard domestic homes in England & Wales. Where you have any different requirements for instance industrial or agricultural property or commercial conveyancing in Flint Mountain you should contact us to discuss your requirements .