I am the registered owner of a freehold premises in Ferryside yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Ferryside and has limited impact for conveyancing in Ferryside 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 fresh 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 after 2037 will be extinguished.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a property in Ferryside? or I am told that there is a law dating back centuries that means some house owners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this relevant for conveyancing in Ferryside?
Unless a prior acquisition of the premises completed post 12 October 2013 you may expect solicitors delivering conveyancing in Ferryside to remain recommending a chancel search and or chancel repair liability policy.
How does conveyancing in Ferryside differ for new build properties?
Most buyers of new build residence in Ferryside come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Ferryside tend to 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 used to new build conveyancing in Ferryside or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Ferryside is the location of the property. Is there any advice you can impart?
Flying freeholds in Ferryside are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ferryside you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ferryside may determine 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 premises.
I'm remortgaging my current house to a BTL loan with Santander and I will use the ballance of the raised equity as a down payment on another property. The location we are looking at is Ferryside. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this site to check that the lawyers are on the relevant lender panels. Having checked that they are the conveyancer will be able to connect the two conveyancing matters but you should have a chat with you conveyancer and specify your desired outcome and requirements.