I am the registered owner of a freehold premises in Brough but nevertheless charged rent, why is this and what is this?

It is rare for properties in Brough and has limited impact for conveyancing in Brough 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 new rentcharges post 1977.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

I have been on the look out for a ground for flat up to £305k and identified one round the corner in Brough I like with open areas and transport links nearby, however it's only got 49 years on the lease. I can't really find anything else in Brough suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you require a mortgage that many years will be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.

What does commercial conveyancing in Brough cover?

Commercial conveyancing in Brough covers a broad array of services, provided by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.

I need to instruct a conveyancing solicitor for remortgage conveyancing in Brough. I have chance upon a web site which looks to be the ideal offering If it is possible to get all the legals completed via email that would be ideal. Should I be wary? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

My wife and I purchased a leasehold flat in Brough. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Brough who previously acted has long since retired. What should I do?

The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Brough conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I purchased a 1 bedroom flat in Brough, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Brough with over 90 years remaining are worth £190,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2086

With only 61 years unexpired we estimate the price of your lease extension to span between £19,000 and £22,000 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.