My lawyer has uncovered a a problem with the lease for the property we are buying in Hoole. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that he must check that the lender is happy with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.

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

It’s unusual for properties in Hoole and has limited impact for conveyancing in Hoole 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 fresh 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 post 2037 is to be extinguished.

Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Hoole I like with open areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Hoole for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.

My brother has urged me to instruct his lawyers for conveyancing in Hoole. Should I use them?

Much as we are happy to recommend a Hoole conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek referrals from friends or family who have actually used the solicitor that you are contemplating using.

Back In 2006, I bought a leasehold flat in Hoole. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Hoole who acted for me is not around. Any advice?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Hoole conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I acquired a basement flat in Hoole, conveyancing formalities finalised 9 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Hoole with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2085

You have 62 years remaining on your lease we estimate the premium for your lease extension to span between £17,100 and £19,800 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.