I purchased a freehold residence in Spilsby but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Spilsby and has limited impact for conveyancing in Spilsby 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 establishment of fresh rentcharges post 1977.

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 dispensed with completely.

I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Spilsby I like with amenity areas and station in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in Spilsby in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

Should you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.

My husband and I are FTB’s - had an offer accepted, but the estate agent advised that the seller will only go ahead if we instruct the agent's recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor used to conveyancing in Spilsby

It is unlikely the owners are behind this. If they require ‘a quick sale', turning down a motivated buyer is likely to cause more damage than good. Contact the vendors directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to use your preferred Spilsby conveyancing lawyers - not the ones that will give their estate agent a referral fee or achieve conveyancing targets demanded by corporate headquarters.

There are only 68 years left on my lease in Spilsby. I now want to get lease extension but my freeholder is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. In some cases an enquiry agent should be helpful to try and locate and prepare a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Spilsby.

Spilsby Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

Make sure you investigate if the the lease includes any onerous restrictions in the lease. For example it is very common in Spilsby leases that pets are not allowed in in a block in Spilsby. If you like the flatin Spilsby however your dog is not allowed to move with you then you will be presented with a difficult determination. For many Spilsby leaseholds the cost for major works are not included within maintenance charges, albeit that some managing agents in Spilsby obliged leasehold owners to pay into a sinking fund and this is used to offset against major works.

How varied are the property related services that Spilsby conveyancing practices offer?

In the main Spilsby conveyancing organisations will offer various legal advice to home and land owners, vendors, investors, landlords and tenants including the following:

Property sale conveyancing in Spilsby or elsewhere in the country Home purchase conveyancing in Spilsby and countrywide Spilsby conveyancing for Buying off mortgagees in possession in and outside of Spilsby Property conveyancing following matrimonial or relationship splits Buying and selling of garden land Tenancy Agreements in Spilsby and throughout England and Wales