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

It is rare for properties in Totteridge and has limited impact for conveyancing in Totteridge 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 generation of new rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

I am selling our home in Totteridge and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing practice rather than a conveyancing solicitor in Totteridge. We have lived in Totteridge for many years we know of no issue. Do we get in touch with our local Authority to seek clarification need.

It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)

How does conveyancing in Totteridge differ for new build properties?

Most buyers of new build or newly converted property in Totteridge approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Totteridge usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Totteridge or who has acted in the same development.

I am looking for a flat up to £195,000 and identified one near me in Totteridge I like with a park and railway links nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Totteridge for this price, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage that many years will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.

In scouring the world wide web for the words cheap conveyancing in Totteridge it shows results of numerous solicitorslocally. How do I determine which is the suitable conveyancer for purchase transaction?

The ideal method of finding a suitable conveyancer is through a personal referral, so ask friends and relatives who have acquired a property in Totteridge or the local estate agent or financial adviser. Costs for conveyancing in Totteridge vary, so it's sensible to request a minimum of four fee estimates from different conveyancers. Make sure that you know that the costs are assured not to escalate.