My colleague advised me that if I am purchasing in Lake District I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is occasionally quoted for as part of the standard Lake District conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Lake District around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Lake District Education with maps and statistics, Local Amenities and other useful data concerning Lake District.

four months have elapsed following my purchase conveyancing in Lake District completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Lake District differ for newly converted properties?

Most buyers of new build premises in Lake District contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Lake District typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lake District or who has acted in the same development.

I am looking for a flat up to £305k and found one near me in Lake District I like with a park and transport links nearby, however it's only got 49 years on the lease. I can't really find anything else in Lake District for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the price by the anticipated 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 could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.

Last November I purchased a leasehold property in Lake District. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Lake District Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying

The prefered form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and even though a managing agent is often employed where it is larger than a house conversion, the managing agent retained by the leaseholders. Is anyone aware of any major works in the near future that will add a premium to the maintenance fees?