We are about to sign contracts for a ground floor flat in Caerwent. We encountered a problem. Our loan offer with Nottingham Building Society expires on 22/5/2026 but the owners are putting forward a completion date of 27/5/2026. Can one extend the mortgage expiry date?
The best person to address this concern is your lawyer who will hopefully determine whether they should be discussing with the lender, vendor’s lawyers, property agents or indeed all parties taking into account the circumstances your house move to date.
I purchased a freehold house in Caerwent but nevertheless charged rent, why is this and what is this?
It’s unusual 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My friend advised me that where I am buying in Caerwent I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Caerwent conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Caerwent around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Caerwent Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Caerwent Education with maps and statistics, Local Amenities and other useful information concerning Caerwent.
I decided to have a survey carried out on a property in Caerwent before instructing conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some banks tend refuse to give a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Caerwent. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking into buying my first house which is in Caerwent and I am already nervous. I couldn't find anything specific about Caerwent. Conveyancing will be needed in due course but do you know about the Caerwent area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Caerwent. In the meantime here are some basic statistics that we found
I am in need of some leasehold conveyancing in Caerwent. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Caerwent - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a split level flat in Caerwent, conveyancing having been completed July 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Caerwent with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2080
You have 54 years unexpired the likely cost is going to be between £32,300 and £37,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.