I purchased a freehold house in Staffordshire yet pay rent, why is this and what is this?

It is rare for properties in Staffordshire and has limited impact for conveyancing in Staffordshire 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 establishment of new rentcharges post 1977.

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

Forgive me if this question is silly but I am unseasoned as FTB of a ground floor flat in Staffordshire. Do I pick up the keys to the property on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Staffordshire?

There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be able to collect the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.

Are all Staffordshire Conveyancing Quality Solicitors on the conveyancing panel?

Some major banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.

I have decided to exercise my right to buy my property in Staffordshire off the council. I have a mortgage offer with . Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with , you will need to appoint a solicitor on the conveyancing panel.

I am purchasing a new build house in Staffordshire with a mortgage from . The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not to tell my lawyer about the extras as it may put at risk my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

We're novice buyers - had an offer accepted, but the property agent informed us that the vendor will only proceed if we instruct their preferred conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Staffordshire

We suspect that the seller is unaware of this ultimatum. Should the owner desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you are going to instruct your preferred Staffordshire conveyancing firm - not the ones that will earn the negotiator at the agency a commission or meet his conveyancing targets pre-set by senior management.

I own a basement flat in Staffordshire, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Staffordshire with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 50

With only 50 years unexpired we estimate the premium for your lease extension to range between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.