Our lawyer has identified a a legal deficiency with the lease for the apartment we are purchasing in Wantage. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the lender?

Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender conditions have to be complied with.

I am the registered owner of a freehold residence in Wantage but still pay rent, why is this and what is this?

It is rare for properties in Wantage and has limited impact for conveyancing in Wantage 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 redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.

The estate agent has sent us the confirmation of our purchase of a new build flat in Wantage. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Wantage

Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?

Due to the input of my in-laws I had a survey completed on a property in Wantage in advance of retaining solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may not issue a loan on such a property.

It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wantage. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wantage to see if the conveyancing costs will increase in light of this.

I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Wantage. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Wantage ?

Most houses in Wantage are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Wantage so you should seriously consider shopping around for a Wantage conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.