I purchased a freehold house in Caersws but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Caersws and has limited impact for conveyancing in Caersws 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 new rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

I am purchasing a right to buy a flat in Caersws. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?

Leaving aside the complexities and merits of DIY conveyancing in Caersws you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Caersws.

I have been on the look out for a ground for flat up to £305k and identified one round the corner in Caersws I like with open areas and station nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Caersws suitable, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a mortgage the shortness of the lease may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.

I need to appoint a conveyancing solicitor for purchase conveyancing in Caersws. I have chance upon a site which appears to be the ideal solution If it is possible to get all the legals completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

There are only 72 years left on my lease in Caersws. I am keen to extend my lease but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. In some cases a specialist would be helpful to carry out a search and prepare an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Caersws.

Caersws Leasehold Conveyancing - Examples of Queries Prior to buying

Make sure you find out if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in certain buildings in Caersws. If you love the apartmentin Caersws yet your cat can’t live with you then you will be presented with a hard compromise. Is there a share of the freehold? Is anyone aware of any major works on the horizon that could increase the service charges?