I am need of leasehold conveyancing for an apartment in a relatively new development (five years old) in Long Buckby. Almost all the properties are already disposed of. Is it strictly necessary to order local searches as part of conveyancing in Long Buckby?
You are putting yourself at risk in not carrying out Long Buckby conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in the strongest possible terms that you have them. Where time pressures and price are top of your concerns you should consider with your conveyancer about the viability of search insurance
I am the registered owner of a freehold premises in Long Buckby yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Long Buckby and has limited impact for conveyancing in Long Buckby 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 establishment of new 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 post 2037 will be extinguished.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Long Buckby. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 4/7/2025, the requirements read as follows :
It has been 2 months following my purchase conveyancing in Long Buckby concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Long Buckby I like with amenity areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Long Buckby for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan that many years may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I own a leasehold flat in Long Buckby. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Long Buckby who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Long Buckby conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a studio flat in Long Buckby, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Long Buckby with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2091
With only 66 years left to run the likely cost is going to be between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. 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 before seeking the advice of a professional.