I am the registered owner of a freehold premises in Finchley yet charged rent, why is this and what is this?

It’s unusual for properties in Finchley and has limited impact for conveyancing in Finchley 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

My lender has suggested a law firm on their panel based in Finchley but I would rather choose a conveyancing lawyer in Finchley round the corner to me. Can you help?

Not all Finchley conveyancing firms are listed all lender’s conveyancing panel. Use our find an approved solicitor tool to choose a Finchley conveyancing firm on the on the bank panel.

A relative suggested that where I am buying in Finchley I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is sometimes quoted for as part of the standard Finchley conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Finchley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Finchley.

Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Finchley is the location of the property. What do you suggest?

Flying freeholds in Finchley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Finchley you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Finchley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

To what extent are Finchley conveyancing solicitors under an obligation to the Law Society to publish clear conveyancing figures?

Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Finchley or across England and Wales.