I purchased a freehold premises in Royton but nevertheless invoiced for rent, why is this and what is this?

It’s unusual for properties in Royton and has limited impact for conveyancing in Royton 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 hundreds of years, 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 in 2037 will be extinguished.

My house in Royton is up for sale and I have a purchaser. Does my solicitor have to be required to be on the Virgin Money conveyancing panel in order to deal with repayment of my mortgage?

Ordinarily, even if your lawyer is not on the Virgin Money 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 in recent years.

This question may be naive but I am unexperienced as FTB of a two bedroom flat in Royton. Do I pick up the keys to the house on the completion date from my conveyancer? If so, I will appoint a local conveyancing solicitor in Royton?

There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be called to pick up the keys from the property Agents and move into your new home. This tends to happen early afternoon.

A relative pointed out to me me that in buying a property in Royton there could be various restrictions limiting what one can do in terms of external changes to a property. Is this right?

There are anumerous of properties in Royton which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Royton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

When it comes to lenders such as Virgin Money, do Royton conveyancers incur a fee to be on the conveyancing panel?

We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

I opted to have a survey done on a property in Royton in advance of instructing solicitors. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may refuse to issue a mortgage on this type of property.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Royton. Conveyancing may be slightly more expensive based on your lender's requirements.

Do I have to have a meeting at the offices of the mortgage company conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Royton so that I can attend their offices if required.

Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Royton.