I purchased a freehold property in Lake but nevertheless pay rent, why is this and what is this?
It is rare for properties in Lake and has limited impact for conveyancing in Lake 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am planning to move house in month. Does my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you recommend a removal company in Lake. Conveyancing solicitor was chosen before I stumbled across yourpage.
On the afternoon of completion you will need to collect the keys from the property agent but this should only happen when the vendors conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. You will need to advise the removal men that they can start moving you in. We are not in a position to suggest a specific removal company but can assist you in choosing a residential property solicitor in Lake or a legal practice with expertise in conveyancing in Lake
Due to the advice of my in-laws I had a survey completed on a property in Lake ahead of appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders will not issue a mortgage on this type of house.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you call us we can check 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 Lake. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lake to see if the conveyancing will be more expensive.