I own a freehold residence in Llandyrnog but still charged rent, why is this and what is this?

It’s unusual for properties in Llandyrnog and has limited impact for conveyancing in Llandyrnog 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 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 in 2037 is to be extinguished.

I am selling my home in Llandyrnog. Will my need to be on the conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.

My wife and I purchased a 4 bedroom Victorian house in Llandyrnog. Conveyancing lawyer represented me and . I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??

You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llandyrnog and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing lawyer who conducted the conveyancing.

I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Llandyrnog I like with amenity areas and railway links nearby, however it's only got 49 years on the lease. I can't really find anything else in Llandyrnog in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.

I have been recommended by a few selling agents in Llandyrnog to choose a property lawyer using your seach tool. Is there a financial upside for Estate Agents to offer your site ahead of another?

We refuse to offer any commission for directing people in our direction. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.