I own a freehold residence in Kidwelly yet pay rent, why is this and what is this?
It is rare for properties in Kidwelly and has limited impact for conveyancing in Kidwelly 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My Conveyancer in Kidwelly is not on the Barnsley Building Society Conveyancing Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are excluded from the Barnsley Building Society panel?
Your options are as follows:
- Complete the purchase with your existing Kidwelly solicitors but Barnsley Building Society will need to retain a lawyer on their panel. This will result in additional overall legal charges as well as cause frustration.
- Choose a new practitioner to act in the purchase, remembering to check they are Persuade your conveyancer to do everything within their powers to join the Barnsley Building Society conveyancing panel
I know that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a residence in Kidwelly? or Apparently there is a law dating back centuries that means some homeowners residing in a parish church boundary may be liable to contribute towards maintenance towards the chancel in proximity to the church. Is this appropriate for conveyancing in Kidwelly?
Unless a prior acquisition of the property completed post 12 October 2013 you could assume that solicitors handling conveyancing in Kidwelly to remain encouraging a chancel search and or insurance against a claim.
How does conveyancing in Kidwelly differ for new build properties?
Most buyers of new build or newly converted property in Kidwelly contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Kidwelly tend to buy 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 conveyancers 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 Kidwelly or who has acted in the same development.
Estate agents have just been given the go-ahead to market my garden apartment in Kidwelly.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – what should I do?
The sensible thing to do is discharge the invoice as normal because all rents and maintenance charges should be apportionedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially