I am getting a mortgage offer from Nat West. I hope to instruct a Licensed Conveyancer in Caerwent. Does the Nat West Conveyancing panel allow for Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I purchased a freehold residence in Caerwent but still pay rent, why is this and what is this?
It is rare for properties in Caerwent and has limited impact for conveyancing in Caerwent 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 fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
How does conveyancing in Caerwent differ for new build properties?
Most buyers of new build or newly converted property in Caerwent contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Caerwent tend to purchase the land, 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 Caerwent or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Caerwent is where the house is located. Can you offer any advice?
Flying freeholds in Caerwent are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Caerwent you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Caerwent may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What is different about your site and other internet conveyancing solicitors for conveyancing in Caerwent?
At this site secure a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Caerwent. As opposed to estate agents and brokerage sites we do not operate referral arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the highest commission, not the best value conveyancing in Caerwent