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

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

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.

I have been told that property searches are the number one cause of obstruction in Sherborne house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Sherborne.

I'm buying a new build house in Sherborne with a loan from Chelsea Building Society. The builders refused to move on the price so I negotiated 6k of extras instead. The property agent advised me not inform my lawyer about the side-deal as it may jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.

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.

Should I choose a Sherborne conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can perform the legal work however her office is 200kilometers away.

The benefit of a high street Sherborne conveyancing practice is that you can drop in to sign paperwork, present your ID and pester them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that should outweigh using an unknown Sherborne conveyancing solicitor just because they are local.

Is it true that a Sherborne conveyancing firm taken to court by a client for failing to conduct comprehensive conveyancing investigations?

Our attention has not be brought to such a Sherborne conveyancing matter but according to a recent report, a couple purchasing a property in Cumbria successfully sued their conveyancing practitioner due to development permission to erect a wind farm failing to be identified in conveyancing searches.

If you are purchasing in Sherborne It is critical that your solicitor carry out all Sherborne conveyancing searches necessary to ensure you have accurate and up to date information ahead of buying a home in Sherborne.