The Killamarsh conveyancing firm handling our Killamarsh conveyancing has identified an inconsistency between the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer informs me that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action legitimate?

Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

I own a freehold premises in Killamarsh but still pay rent, why is this and what is this?

It’s unusual for properties in Killamarsh and has limited impact for conveyancing in Killamarsh 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 post 1977.

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 dispensed with completely.

Me and my brother have a 4 bedroom Georgian property in Killamarsh. Conveyancing solicitor represented me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?

You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Killamarsh and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who conducted the conveyancing.

My father has urged me to use his lawyers for conveyancing in Killamarsh. Should I use them?

There are no two ways about it it’s preferable to find a conveyancing solicitor is to have recommendations from friends or family who have actually experience in using the firm that you are considering.

What are the frequently found deficiencies that you encounter in leases for Killamarsh properties?

There is nothing unique about leasehold conveyancing in Killamarsh. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party.

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Leasehold Conveyancing in Killamarsh - Examples of Questions you should consider Prior to Purchasing

Is the freehold owned collectively by the leaseholders? Are any of leasehold owners in dispute over their service charge liability? It would be prudent to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the tidiness of the communal areas. Don't be shy to ask other people what they think of their management. In conclusion, be sure you understand the dates that the service charges are due to the relevant party and specifically how they are spending that money.