I am the registered owner of a freehold property in Lancashire but still invoiced for 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 establishment of new rentcharges from 1977 onwards.
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 extinguished.
four months have elapsed following my purchase conveyancing in Lancashire completed. I have checked the Land Registry website which shows that I paid £150,000 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.
How does conveyancing in Lancashire differ for newly converted properties?
Most buyers of new build premises in Lancashire approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Lancashire usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lancashire or who has acted in the same development.
Given that I am about to part with over three hundred thousand on 3 bedroom house in Lancashire I would like to have a conversation with the conveyancer concerning thetransaction prior to instructing the firm. Can this be arranged?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you speaking to the conveyancer who will be carrying out your property ownership legalities in Lancashire.There is no ‘factory style conveyancing’ - every client is unique person, not a file number. The solicitors that we put you in touch with believe that the figure you are provided with for your conveyancing in Lancashire should be the figure that you end up paying.
Am I best advised to instruct a Lancashire conveyancing solicitor based in the location that I am purchasing? An old friend can perform the legal work but they are based approximately 350miles drive away.
The primary upside of using a local Lancashire conveyancing practice is that you can visit the firm to sign paperwork, present your ID and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were content that should outweigh using an unknown Lancashire conveyancing lawyer just because they are round the corner.