I own a freehold residence in Aldersgate yet pay rent, why is this and what is this?

It is rare for properties in Aldersgate and has limited impact for conveyancing in Aldersgate 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 generation of fresh 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 after 2037 will be dispensed with completely.

My brother-in-law has suggested I instruct a conveyancing solicitor in Aldersgate. I I would like to check whether they are accepted on the Lloyds TSB Bank conveyancing panel. Could you advise?

The first thing you should do is e-mail your solicitor and enquire if they can act for the bank. Otherwise you should get in touch with Lloyds TSB Bank who may be able to assist.

We are buying a house and the solicitor has referenced Chancel Repair to which the house could be obligated to contribute to as it falls into the area of such a church. He has mentioned insurance. Is this strictly required for conveyancing in Aldersgate

Unless a previous acquisition of the property completed after 12 October 2013 you may assume that solicitors carrying out conveyancing in Aldersgate to continue to advocate a chancel search and or insurance against a claim.

What does commercial conveyancing in Aldersgate cover?

Non domestic conveyancing in Aldersgate incorporates a broad array of services, provided by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.

Having checked my lease I have discovered that there are only 68 years left on my flat in Aldersgate. I am keen to extend my lease but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the lessor. In some cases a specialist should be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Aldersgate.

We have reached the end of our tether in trying to purchase the freehold in Aldersgate. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the price payable.

An example of a Lease Extension matter before the tribunal for a Aldersgate residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The unexpired residue of the current lease was 72.39 years.