I own a freehold house in Henfield but still charged rent, why is this and what is this?

It’s unusual for properties in Henfield and has limited impact for conveyancing in Henfield 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 creation of new rentcharges post 1977.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.

I'm purchasing my first flat in Henfield with a loan from . The sellers refused to budge the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my solicitor about this extras as it could affect my loan with . Should I keep quiet?.

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.

How difficult is it to switch firm as I have to instruct one who is on the conveyancing panel. I was using a local conveyancing solicitor in Henfield round the corner but she is not approved by

We will our best to assist in finding you a conveyancing solicitor in Henfield on the panel. Please note that the law firms that we on the directory do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Henfield. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Henfield.

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Henfield. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Henfield are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Henfield in which case you should be shopping around for a Henfield conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.

I acquired a 1 bedroom flat in Henfield, conveyancing formalities finalised 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Henfield with a long lease are worth £165,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 50

With only 50 years remaining on your lease we estimate the premium for your lease extension to be between £36,100 and £41,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

How much experience do your Henfield conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?

Henfield conveyancing lawyers help thousands of people move home every year and supported plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Henfield conveyancers have worked on recent similar matters.