I am the registered owner of a freehold residence in Longthorpe yet pay rent, why is this and what is this?
It is rare for properties in Longthorpe and has limited impact for conveyancing in Longthorpe 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 generation of new 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 post 2037 is to be dispensed with completely.
Last month we had a mortgage agreed in principle with Nottingham. Longthorpe conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from Nottingham?
There is no definitive answer here. Have Nottingham conducted the survey? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I had an offer accepted on a property in Longthorpe on 14/9/2026, valuation was booked five days later, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to TSB and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the TSB conveyancing panel. Are TSB entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
My sealed bid on a semi in Longthorpe has been agreed to, the sellers do however have a tied purchase. The owners have offered on on an apartment, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have instructed a nearby conveyancing solicitor in Longthorpe. What do I do now? At what point do I apply for the mortgage with TSB?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then survey, Longthorpe conveyancing search fees, etc). The first course of action is to ensure that your property lawyer is on the TSB conveyancing panel. Concerning the subsequent phase this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. In a buoyant market the majority of purchasers will apply for a home loan with TSB and pay for the valuation and only if it comes back ok would they ask their lawyer to move forward with searches.
What can a local search tell me regarding the house we're buying in Longthorpe?
Longthorpe conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search plays an important role in most Longthorpe conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
3 months have gone by following my purchase conveyancing in Longthorpe concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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.
I am tempted by the attractive purchase price for a two apartments in Longthorpe which have approximately 50 years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Longthorpe is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Longthorpe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a leasehold flat in Longthorpe, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Longthorpe with an extended lease are worth £181,000. The ground rent is £55 per annum. The lease runs out on 21st October 2077
With only 51 years left to run we estimate the premium for your lease extension to range between £30,400 and £35,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Midway through the sale of a leasehold flat in Longthorpe. Conveyancing is fine but we are being charged an extortionate amount from the landlord. To date we have paid £295.50 for a leasehold management pack and then another £134.40 for supplemental queries supplied by the purchaser's lawyer.
You will not have any say over the level of the charges for this information however the average fee for the information for Longthorpe leasehold premises is £360. When it comes to Longthorpe conveyancing sales it is standard for the vendor to pay for these charges. The freeholder or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no legislation that mandates capped fees for administrative tasks. There is no legal time limit by which they are duty bound to supply the information.