I purchased a freehold property in Mulbarton but still pay rent, why is this and what is this?

It’s unusual for properties in Mulbarton and has limited impact for conveyancing in Mulbarton 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 creation of new rentcharges post 1977.

Old 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 extinguished.

It has been 2 months since my purchase conveyancing in Mulbarton concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Mulbarton differ for new build properties?

Most buyers of new build premises in Mulbarton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Mulbarton tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Mulbarton or who has acted in the same development.

Due to the encouragement of my in-laws I had a survey completed on a house in Mulbarton before instructing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some lenders will refuse to grant a loan on this type of premises.

It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Mulbarton. Conveyancing may be slightly more expensive based on your lender's requirements.

In my capacity as executor for the estate of my father I am disposing of a property in Swansea but reside in Mulbarton. My conveyancer (based 260 kilometers awayrequires that I execute a stat dec ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Mulbarton who can attest and place their company stamp on the document?

strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Mulbarton based