I purchased a freehold property in Caerwys but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Caerwys and has limited impact for conveyancing in Caerwys 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 extinguished.
My lawyer in Caerwys is not on the Norwich and Peterborough Building Society Conveyancing Panel. Is it possible for me to retain my family solicitor even though they are excluded from the Norwich and Peterborough Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Caerwys lawyers but Norwich and Peterborough Building Society will need to instruct a solicitor on their panel. This will result in additional total conveyancing charges and result in frustration.
- Choose a new solicitor to to deal with the conveyancing, obviously checking they are Norwich and Peterborough Building Society approved.
- Try to convince your Norwich and Peterborough Building Society solicitor to attempt to join the Norwich and Peterborough Building Society panel
Are there restrictive covenants that are commonly picked up as part of conveyancing in Caerwys?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Caerwys. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Caerwys differ for new build properties?
Most buyers of new build property in Caerwys come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Caerwys typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Caerwys or who has acted in the same development.
I am downsizing from my property. My past solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Caerwys if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Caerwys. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
We are in the midst of selling our flat in Caerwys. Conveyancing is fine but we are being charged a fortune from the managing agents. So far we have forked out £275 for a leasehold management information and then another £134.40 for additional questions raised by the buyers lawyer.
Neither you or your conveyancer will have any sway over the extent of the bill for this information however the typical costs for the information for Caerwys leasehold property is £355. When it comes to Caerwys conveyancing deals it is conventional for the owner to cover the costs. The freeholder or their agents are not duty bound to answer these questions most will agree to do so - albeit often at exorbitant prices out of proportion to the work involved. Regretfully there is no legislation that requires capped fees for administrative tasks. There is no prescriptive time frame by which they are obliged to issue the information.