I own a freehold premises in Wolverhampton but nevertheless invoiced for rent, why is this and what is this?

It’s unusual for properties in Wolverhampton and has limited impact for conveyancing in Wolverhampton 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 fresh 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.

My solicitor has informed me that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Wolverhampton?

The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between and . Conveyancing practitioners as opposed to borrowers take out such insurances.

I happen to be the sole recipient of my late grandmother’s estate and I have everything in my name now, including the my former home in Wolverhampton. The Wolverhampton property was put into my name in . I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be treated the same way as though I had purchased the property in . Will no one buy the property for half a year?

The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. many lenders would take a sensible view as this obligation is primarily there to pick up on the purchase and immediately sell or the flipping of properties.

After months of negotiation I have agreed a price on an apartment in Wolverhampton. My financial adviser pressured me to appoint their . I paid an advanced payment of £150. A few days later, the contacted me sheepishly admitting that they were not on the conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

Should commercial conveyancing searches disclose proposed roadworks that may impact a commercial property in Wolverhampton?

Many commercial conveyancing solicitors in Wolverhampton will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Wolverhampton. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wolverhampton.

For every commercial conveyancing transaction in Wolverhampton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Wolverhampton commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Wolverhampton.

I have recently realised that I have 62 years remaining on my flat in Wolverhampton. I now wish to get lease extension but my freeholder is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. For most situations a specialist may be helpful to conduct investigations and prepare a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Wolverhampton.

I acquired a 1st floor flat in Wolverhampton, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Wolverhampton with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 50

With 50 years remaining on your lease we estimate the price of your lease extension to range between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Are Wolverhampton conveyancing solicitors duty bound by the Law Society to issue transparent conveyancing costs?

Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have 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 to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Wolverhampton or beyond.