I own a freehold property in Macclesfield yet charged rent, why is this and what is this?

It’s unusual for properties in Macclesfield and has limited impact for conveyancing in Macclesfield 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 establishment of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

I have just over seventy years unexpired on my lease and need a lease extension for my flat in Macclesfield. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/1/2025 the requirements read as follows :

I am close to exchanging contracts on the sale of our property in Macclesfield and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Macclesfield lawyer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Macclesfield. We have lived in Macclesfield for 4 years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification that the buyers are looking for.

It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)

Is it simple use your search tool to get a fee calculation from a conveyancing practitioner in Macclesfield on the panel for my mortgage?

1st select a bank such as Lloyds TSB Bank, Skipton Building Society or Platform Home Loans Ltd then choose your location for instance Macclesfield. Conveyancing firms in Macclesfield and further afield will then be identified.

I have just started marketing my basement apartment in Macclesfield. Conveyancing is yet to be initiated, however I have just had a quarterly maintenance charge demand – what should I do?

It best that you pay the invoice as normal given that all rents and service payments will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a split level flat in Macclesfield, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Macclesfield with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2105

With only 80 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.