I purchased a freehold premises in Brixham but nevertheless charged rent, why is this and what is this?

It is rare for properties in Brixham and has limited impact for conveyancing in Brixham 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 lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

When it comes to lenders such as Santander, do Brixham conveyancers incur a fee to be on the conveyancing panel?

We are not aware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.

TSB have agreed my mortgage in principle, my offer on a property in Brixham has been agreed to, what are the next steps?

The estate agent will wish to know who your solicitors are (ensure that the lawyers are on the lender’s panel). Contact TSB or your financial adviser and finish off any outstanding forms. TSB will sellect a valuer who will get in touch with the estate agent or vendor to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. TSB will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Brixham.

I have finally had an offer on a flat in Brixham accepted, the owners do however have a dependent purchase. The owners have offered on a property, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Brixham. What should be my next step? When should I get the mortgage application with Nottingham started?

It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Brixham conveyancing search charges, etc). First, you must ensure that your property lawyer is on the Nottingham approved list. Concerning the next stages this very much depends on the specifics of your transaction, motivation for this property and on the state of the market. In a buoyant market many home buyers would apply for a home loan with Nottingham and arrange for the valuation and only if it comes back ok would they request their property lawyer to press on with the conveyancing in Brixham.

I require fast conveyancing in Brixham as I have pressure to exchange contracts in less than one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?

As you are are a mortgage free buyer you are at free not to have searches conducted although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Brixham the following are instances of what can appear and therefore impact future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...

I'm purchasing my first flat in Brixham with a loan from National Westminster Bank. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not disclose to my lawyer about the deal as it may jeopardize my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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.

Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Brixham I like with amenity areas and station nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Brixham in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

Should you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.