I am the registered owner of a freehold property in Louth but still charged rent, why is this and what is this?

It’s unusual for properties in Louth and has limited impact for conveyancing in Louth 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 have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

After researching consumer advice sites for a conveyancing solicitor in Louth, many say that I should instruct a CQS kitemarked solicitor. Can you explain what CQS is?

Louth Conveyancing Quality Scheme solicitors have achieved certification by the law Society The Law Society created CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS enables consumers to identify solicitor firms that provide a quality residential conveyancing. Louth is one of locations in England and Wales in which CQS have a presence. The scheme obliges law firms to undergo a strict assessment, compulsory training, self-reporting, random audits and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Legal Ombudsman.

My wife and I own a terraced Georgian property in Louth. Conveyancing solicitor acted for me and . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??

You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Louth 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 mortgage companies. You can also question the situation with the conveyancing lawyer who conducted the work.

I opted to have a survey completed on a property in Louth prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies may not issue a loan on a flying freehold house.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Louth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Louth to see if the conveyancing will be more expensive.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Louth. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Louth are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Louth in which case you should be shopping around for a Louth conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

I purchased a 1st floor flat in Louth, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Louth with a long lease are worth £165,000. The ground rent is £45 levied per year. The lease finishes on 21st October 50

With just 50 years remaining on your lease we estimate the price of your lease extension to range between £36,100 and £41,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.