I purchased a freehold residence in Barry Island but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Barry Island and has limited impact for conveyancing in Barry Island 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 generation 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 will be dispensed with completely.
I am considering applying for a Santander mortgage for purchase of a new build (under development) in Barry Island with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
It has been three months since my purchase conveyancing in Barry Island completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 premises 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.
In what way does the Landlord & Tenant Act 1954 impact my business property in Barry Island and how can you help?
The 1954 Act gives protection to business leaseholders, granting the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Barry Island is one of our hundreds of areas of the UK in which our lawyers have offices
In my capacity as executor for the will of my father I am selling a residence in Neath but reside in Barry Island. My solicitor (approximately 250 kilometers awayhas requested that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Barry Island to witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Barry Island based
My plan is to purchase a garden apartment in Barry Island. Conveyancing lawyer is waiting for, from the seller, building insurance schedule. This morning I was advised that the seller needs to send the insurance documents for the flat above in addition. Why does my lawyer need to check the insurance for the other flat? Is it strictly necessary? We have been waiting for the previous fortnight…
It is not impossible in leasehold conveyancing in Barry Island to find Conveyancing in Barry Island in a minority of cases reveals that the lease obliges the tenant's to insure their individual flats rather than the freeholder insuring the whole property - which is definitely preferable. You should clarify with your lawyer but it would appear that your solicitor is attempting to verify that the complete building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the other flat cannot be reconstructed for lack of insurance cover.