I am the registered owner of a freehold house in Lacock yet pay rent, why is this and what is this?

It is rare for properties in Lacock and has limited impact for conveyancing in Lacock 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh 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 will be dispensed with completely.

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

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Lacock. 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…’

I opted to have a survey carried out on a property in Lacock prior to appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may refuse to grant a mortgage on a flying freehold premises.

It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lacock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lacock to see if the conveyancing will be more expensive.

My father-in-law has suggested that I instruct his conveyancers in Lacock. Should I use them?

There are no two ways about it the best way to find a conveyancing solicitor is to have recommendations from friends or relatives who have previously instructed the firm you're are thinking of instructing.

Can you offer any advice when it comes to finding a Lacock conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Lacock conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Lacock conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:

If they are not ALEP accredited then why not? What are the legal fees for lease extension conveyancing?

Leasehold Conveyancing in Lacock - Sample of Questions you should ask Prior to buying

Who are the managing agents? What is the annual maintenance fee and ground rent? The best form of lease structure is a share of the freehold. In this arrangement the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent employed by the leaseholders.