I am the registered owner of a freehold premises in Whickham but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Whickham and has limited impact for conveyancing in Whickham 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 establishment 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 after 2037 will be extinguished.

I need some quick conveyancing in Whickham as I am faced with an ultimatum to complete within 3 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?

As you are not taking a home loan you are at liberty not to do searches although no conveyancer would recommend that you don't. With plenty of history conveyancing in Whickham the following are examples of issues that can arise and adversely affect the marketability of the property: Enforcement Notices, Overdue Charges, Outstanding Grants, Road Schemes,...

Over the last few months I have been searching for a flat up to £245,000 and found one close by in Whickham I like with a park and railway links in the vicinity, the downside is that it only has 61 remaining years left on the lease. There is not much else in Whickham suitable, so just wondered if I would be making a grave error acquiring a short lease?

Should you require a mortgage that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.

I have just started marketing my garden flat in Whickham. Conveyancing is yet to be initiated, but I have recently received a yearly maintenance charge demand – what should I do?

The sensible thing to do is pay the maintenance contribution as you normally would given that all rents and maintenance payments should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold flat in Whickham, conveyancing formalities finalised December 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Whickham with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease finishes on 21st October 2082

With just 57 years remaining on your lease we estimate the premium for your lease extension to be between £28,500 and £33,000 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

My conveyancer in Whickham has requested from me identification documents saying that this forms part of his legal duty as a solicitor on the mortgage company Conveyancing panel. Can this be correct?

Anti-terror and anti-money-laundering rules require Whickham conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements