I purchased a freehold premises in Nelson but nevertheless charged rent, why is this and what is this?

It is rare for properties in Nelson and has limited impact for conveyancing in Nelson 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 generation of new 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 in 2037 will be extinguished.

We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather use a specialised conveyancing solicitor in Nelson?

You should check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" deal. Speak to the mortgage company to explore if they make available a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Nelson.

We are 3 weeks into a residential purchase having been directed to conveyancers by the selling agent to carry out the conveyancing in Nelson. We are not happy. Can you you assist me in finding new lawyers?

They would have to be really bad to suggest replacing them. Has your mortgage offer been issued? If so you will need to advise them of the new contact details and ensure the mortgage documents are re-sent. The conveyancer should be on the banks approved list to avoid supplemental costs and delays. That should be your first question of the new conveyancers. The find a solicitor tool should assist you in finding a bank approved solicitor for your home move in Nelson

I have just started marketing my 2 bed apartment in Nelson. Conveyancing solicitors are to be appointed soon, but I have recently had a yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge as usual because all rents and service invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I invested in buying a leasehold flat in Nelson, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Nelson with over 90 years remaining are worth £170,000. The ground rent is £50 per annum. The lease expires on 21st October 2104

With only 79 years unexpired the likely cost is going to be between £7,600 and £8,800 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

I’m about to sell my garden flat in Nelson.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – what should I do?

The sensible thing to do is pay the service charge as usual as all rents and service charges should be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process