Having been suggested to visit your web site we were going to go ahead with a conveyancing solicitor in Paddington listed by you but have come across alternative quotes on the internet appear less expensive – why is this?

There are hundreds of solicitors marketing what appear to be very low prices. We would urge you to think twice about how much you respect your own move to want to take 'cheap' risks over the standard of the legal work. Some embed fees deep into the terms of business. The conveyancers that we put forward for conveyancing in Paddington neverbehave this way.

I am the registered owner of a freehold house in Paddington but nevertheless charged rent, why is this and what is this?

It is rare for properties in Paddington and has limited impact for conveyancing in Paddington 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 establishment of new rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

I am considering applying for a Aldermore mortgage for purchase of a new build (under development) in Paddington with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?

In theory, you could use a solicitor that is not on the Aldermore conveyancing panel, but Aldermore would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

Me and my brother purchased a 4 bedroom Edwardian house in Paddington. Conveyancing lawyer represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching address. Is it worth asking Godiva Mortgages Ltd to clarify?

You should review 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 Paddington and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing solicitor who conducted the purchase.

Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Paddington I like with open areas and transport links nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in Paddington in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.