I am the registered owner of a freehold premises in Lancaster but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Lancaster and has limited impact for conveyancing in Lancaster 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 post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
It has been four months since my purchase conveyancing in Lancaster took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My company is hoping to take over a lease of an office on a shopping parade. Can you recommend conveyancers offering competitive costs for non-domestic conveyancing in Lancaster for below £2000?
We can recommend firms who have specialist knowledge of commercial conveyancing in Lancaster, including the sale and purchase of businesses as well as simply property. If you are intending to purchase or dispose of a shop, pub, restaurant, office, retail premises or a complete business we can find you the right firm. Regarding the costs these will vary based on the structure and complexity of the deal. Let us have your contact information or phone us so that we can furnish you with a detailed commercial conveyancing quote.
My husband and I are novice buyers - had an offer accepted, yet the agent advised that the owners will only proceed if we instruct their preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Lancaster
We suspect that the owner is not behind this request. If they desire ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you are going to instruct your own,trusted Lancaster conveyancing solicitors - not the ones that will provide their estate agent a commission or achieve conveyancing figures demanded by corporate headquarters.
Planning to complete next month on a garden flat in Lancaster. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Lancaster should include some of the following:
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You should know whether the lease allows you to add or improve anything in the flat- you must be made aware as to whether any restrictions relates to all alterations or just structural alteration, and whether permission is mandated necessary You should be told what is to be regarded as a Nuisance in the lease Whether the lease restricts you from letting out the flat, or having a home office for business How long the lease is. You should receive guidance as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Repair and maintenance of the premises
Lancaster Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Is there a share of the freehold? Please note that where the lease has no more than 80 years it will have adverse implications on the value of the flat. It is worth checking with your mortgage company that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Lancasterlease extensions you will be be obliged to have owned the property for two years before you are eligible to extend the lease. What restrictions are there in the Lancaster Lease?
To what extent are Lancaster conveyancing solicitors duty bound by the Law Society to issue transparent conveyancing figures?
Contained within 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 perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Lancaster or further afield.