I am the registered owner of a freehold house in Melksham yet pay rent, why is this and what is this?
It is rare for properties in Melksham and has limited impact for conveyancing in Melksham 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I decided to have a survey done on a property in Melksham ahead of instructing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some banks may refuse to grant a loan on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you e-mail us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Melksham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the words on line conveyancing in Melksham it reveals many conveyancerslocally.With so much choice what is the best way to find the suitable conveyancing solicitor for my move?
The preferential method of seeking the right conveyancer is via personal testimonial, so seek the counsel of colleagues and those you trust who have bought a property in Melksham or the local estate agent or financial adviser.Charges for conveyancing in Melksham vary, so it's a good idea to secure a minimum of four fee calculations from different conveyancers. Make sure that you know that the costs are assured not to to be inflated.