I am the registered owner of a freehold house in Lancashire yet charged rent, why is this and what is this?
It’s unusual for properties in Lancashire and has limited impact for conveyancing in Lancashire 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 generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My stepmother advised me that in purchasing a property in Lancashire there may be a number of restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in Lancashire which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Lancashire should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are due to move home in July. Will my conveyancing solicitor liaise with the removal company on the completion day. Incidentally, can you suggest a removal company in Lancashire. Conveyancing firm was found prior to coming across your site.
On the day of completion you will need to collect the house keys from the estate agent however this can only happen when the previous owners lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be handed over. After that you will need to inform the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal company but can assist you in locating a residential property solicitor in Lancashire or a firm with expertise in conveyancing in Lancashire.
Can I be sure that the Lancashire conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Lancashire getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.
About to purchase a new build flat in Lancashire. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Lancashire
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Lancashire is the location of the property. Can you shed any light on this issue?
Flying freeholds in Lancashire are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lancashire you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lancashire may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking at a two apartments in Lancashire both have about 50 years unexpired on the lease term. should I be concerned?
There are no two ways about it. A leasehold apartment in Lancashire is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and banks, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lancashire conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Lancashire - Examples of Queries Prior to buying
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Does the lease have onerous restrictions? Generally speaking the cost for major works tend not to be included within service charges, although some managing agents in Lancashire require tenants to contribute towards a reserve fund created for the specific purpose of building a fund for larger works. Best to be warned whether a new roof is being put on or some other major work is pending that will be shared by the leaseholders and could well dramatically increase the the service charges or necessitate a specific invoice.
I previously informed by my mortgage company that their approved solicitors operate no sale no fee basis for conveyancing in Lancashire. Our purchase aborted nevertheless the conveyancers have invoiced for search fees! They say the fees are independent!
By offering "no sale no fee" Lancashire conveyancing lawyers are foregoing their charges for any work conducted. We should point out that this is NOT an insurance scheme. you will still be expected to cover any disbursements that the conveyancing practitioner has incurred for you such as Lancashire local authority searches