I am the registered owner of a freehold residence in Telford but still invoiced for rent, why is this and what is this?

It is rare for properties in Telford and has limited impact for conveyancing in Telford 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 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.

We're in Telford, First time buyers purchasing with a mortgage (lender is , and our lawyer is on the conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

How does conveyancing in Telford differ for new build properties?

Most buyers of new build property in Telford contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Telford tend to purchase the site, 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 used to new build conveyancing in Telford or who has acted in the same development.

In what way does the Landlord & Tenant Act 1954 impact my commercial property in Telford and how can you help?

The particular law that you refer to gives protection to business leaseholders, giving them the a statutory right to make a request to court for a new lease and remain in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Telford

I invested in buying a ground floor flat in Telford, conveyancing formalities finalised 1995. How much will my lease extension cost? Similar flats in Telford with an extended lease are worth £165,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 50

You have 50 years unexpired we estimate the premium for your lease extension to span between £36,100 and £41,800 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.