I purchased a freehold house in Glossop yet pay rent, why is this and what is this?

It’s unusual for properties in Glossop and has limited impact for conveyancing in Glossop 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

I am selling our house in Glossop and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the purchasers instructed a national conveyancing firm rather than a conveyancing solicitor in Glossop. Having lived in Glossop for 5 years we know of no issue. Should we contact our local Authority to get clarification need.

It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)

Are there restrictive covenants that are commonly picked up during conveyancing in Glossop?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Glossop. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

We're FTB’s - had an offer accepted, yet the agent advised that the vendor will only proceed if we appoint the agent's recommended lawyers as they want an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Glossop

We suspect that the owner is not behind this ultimatum. Should the vendor desire ‘a quick sale', alienating a serious buyer is not the way to achieve this. Try to communicate with the owners directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to use your preferred Glossop conveyancing solicitors - not the ones that will give their negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by HQ.

I am tempted by the attractive purchase price for a two apartments in Glossop both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.

Glossop Leasehold Conveyancing - A selection of Queries before Purchasing

Does the lease contain onerous restrictions? The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the leaseholders benefit from control and even though a managing agent is often retained where it is bigger than a house conversion, the managing agent employed by the leaseholders. In the main the cost for major works are not built into the service charges, albeit that some managing agents in Glossop ask leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for larger works.