I own a freehold property in Chorley and Eccleston yet charged rent, why is this and what is this?

It’s unusual for properties in Chorley and Eccleston and has limited impact for conveyancing in Chorley and Eccleston 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.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

How do I find out if the solicitor conducting my conveyancing in Chorley and Eccleston is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus spending £175.00 in another set of conveyancing fees.

Please do make use of the search tool on this page. Pick the mortgage company and type ‘Chorley and Eccleston’ or your location and you will discover a number of lawyer offices in Chorley and Eccleston or by proximity to you.

Are there restrictive covenants that are commonly identified during conveyancing in Chorley and Eccleston?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Chorley and Eccleston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

We're FTB’s - agreed a price, but the estate agent has warned us that the owners will only proceed if we instruct their preferred solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Chorley and Eccleston

We suspect that the seller is unaware of this requirement. Should the vendor desire ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Bypass the agents and go straight to the sellers and explain that (a)you are motivated purchasers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you are going to instruct your own,trusted Chorley and Eccleston conveyancing lawyers - as opposed tothe ones that will provide their negotiator at the agency a commission or achieve conveyancing thresholds demanded by HQ.

Planning to complete next month on a studio apartment in Chorley and Eccleston. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Chorley and Eccleston should include some of the following:

Ground rent - what is due and when you need to pay, and be on notice if this is subject to change Information concerning the obligations in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a leaseholder enjoys Are pets allowed in the flat? What options are available to the landlord where you are in breach of your lease terms? Who has the liability to repair and maintain the building. It is important that you know who is liable for the repair and maintenance of every part of the building

Leasehold Conveyancing in Chorley and Eccleston - Sample of Questions you should ask before Purchasing

Does the lease include onerous restrictions? You should be aware that where the lease has fewer than 80 years it will affect the salability of the property. Check with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the residence for two years in order to be eligible to extend the lease. Best to be warned if redecorating or some other major work is due in the near future that will be shared by the leasehold owners and may well materially impact the level of the service fees or result in a specific invoice.