I own a freehold residence in Lancaster but still pay rent, why is this and what is this?
It is rare 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
It has been three months since my purchase conveyancing in Lancaster completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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.
I am a sole trader looking to lease a unit on the high street. Can you recommend solicitors offering competitive fees for non-domestic conveyancing in Lancaster for under 1500k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Lancaster, including the disposal and purchase of businesses as well as simply premises. If you are looking to purchase or lease a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right firm. Regarding the charges these will vary based on the structure and terms of the deal. Please provide us with your contact information or email so as to enable us to supply you with comprehensive commercial conveyancing quote.
My husband and I are first time buyers - had an offer accepted, but the estate agent advised that the seller will only proceed if we appoint the agent's preferred lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor who is familiar with conveyancing in Lancaster
We suspect that the seller is not behind this demand. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you intend to use your own,trusted Lancaster conveyancing solicitors - rather thanthose that will give the negotiator at the agency a commission or meet his conveyancing figures set by HQ.
I am hoping to exchange soon on a ground floor flat in Lancaster. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Lancaster should include some of the following:
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Does the lease require carpeting throughout thus preventing wood flooring? Information concerning the obligations as set out in the lease to pay service charges - with regard to both the building, and the wider rights a tenant enjoys How long the lease is. You should receive guidance as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years Whether the lease restricts you from subletting the property, or having a home office for business specifics of the parties to the lease, for example these could be the tennant, superior lessor, freeholder
Lancaster Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this arrangement the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is often employed where it is bigger than a house conversion, the managing agent is directed by the tenants. How many years are left on the lease? How many of the leaseholders are in arrears for their maintenance charge payments?
To what extent are Lancaster conveyancing solicitors duty bound by the Law Society to supply 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 regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, constitute 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 Lancaster or further afield.