I am the registered owner of a freehold property in Bury St Edmunds but nevertheless pay rent, why is this and what is this?

It is rare for properties in Bury St Edmunds and has limited impact for conveyancing in Bury St Edmunds 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 establishment of fresh rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

is it true that all Bury St Edmunds solicitor practices on the Skipton conveyancing panel are regulated by the Solicitors Regulatory Authority?

As a firm of solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel in which case such firms would be overseen by the CLC.

My wife and I are spending time looking at apartments in Bury St Edmunds and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Lloyds.

You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are seeking a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.

I was told three weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Bury St Edmunds is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.

I used Arc property Solicitors several years ago for my conveyancing in Bury St Edmunds. I now require my file however cannot find the solicitor. What do I do?

You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bury St Edmunds of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

How does conveyancing in Bury St Edmunds differ for newly converted properties?

Most buyers of new build property in Bury St Edmunds come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Bury St Edmunds typically purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in Bury St Edmunds or who has acted in the same development.

I decided to have a survey carried out on a house in Bury St Edmunds in advance of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies tend not grant a loan on a flying freehold property.

It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bury St Edmunds. Conveyancing will be smoother if you use a solicitor in Bury St Edmunds especially if they are acquainted with such properties in Bury St Edmunds.