I purchased a freehold premises in Preston yet pay rent, why is this and what is this?
It’s unusual for properties in Preston and has limited impact for conveyancing in Preston 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 creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am helping my aunt sell her property in Preston. Does the solicitor order the energy assessment or do I organise this?
After the abolition of Home Packs, energy assessments was left as a compulsory element of moving house. An energy assessment must be commissioned prior to the property being advertised. This is not a task that lawyers normally arrange. Where you are using a Preston conveyancing practitioner they may help arrange EPC’s due to their relationships with long established local assessors
Forgive me if this question is silly but I am new to the home buying as a first time buyer of a two bedroom flat in Preston. Do I receive the keys to the house on completion from my conveyancer? If so, I will use a local conveyancing solicitor in Preston?
On the day of completion you will not be required to go to the conveyancers office in Preston. Conveyancing lawyers for you will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you will be called to collect the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
Is it correct that all Preston CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing panel?
A selection of lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
It has been five months since my purchase conveyancing in Preston took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 premises 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.
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I am in need of some leasehold conveyancing in Preston. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Preston - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a first flat in Preston. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the premium.
An example of a Lease Extension case for a Preston premises is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The unexpired term was 74 years.