I am the registered owner of a freehold property in Cardiff Bay but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Cardiff Bay and has limited impact for conveyancing in Cardiff Bay 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 establishment of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.

Do I need to pay for insurance to protect me from financial exposure to chancel repairs when buying a property in Cardiff Bay?

Unless a prior purchase of the property completed after 12 October 2013 you may assume that lawyers conducting conveyancing in Cardiff Bay to remain encouraging a chancel search and or insurance against a claim.

I decided to have a survey done on a property in Cardiff Bay prior to retaining conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks will not grant a mortgage on this type of house.

It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cardiff Bay. Conveyancing will be smoother if you use a solicitor in Cardiff Bay especially if they are familiar with such properties in Cardiff Bay.

Expecting to sign contracts shortly on a leasehold property in Cardiff Bay. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Cardiff Bay should include some of the following:

The unexpired lease term. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Additions to the premises Who has the liability for repairing the window frames Whether the lease restricts you from subletting the flat, or working from home The physical extent of the property. This might be the apartment itself but may incorporate a roof area or basement if relevant.

Leasehold Conveyancing in Cardiff Bay - Examples of Questions you should consider before Purchasing

What prohibitions are there in the Cardiff Bay Lease? For most Cardiff Bay leaseholds the outlay for major works are not included within service charges, albeit that there some managing agents in Cardiff Bay obliged tenants to contribute towards a sinking fund and this is used to offset against larger works. Can you inform me if there are any major works in the near future that will likely add a premium to the maintenance charges?

I bought a property in Cardiff Bay last and to date it is still not recorded with HM Land Registry. It is part of a development site and my told me that it can take 12 months to complete the registration formalities. I have called HMLR directly and they say that the original application was cancelled due to failure to reply to requisitions. What can I do?

It is your that you should contact in order to satisfy any questions which have arisen as part of the registration process for your Cardiff Bay property. Normal Cardiff Bay conveyancing practice includes an undertaking on the part of the previous owner’s that they will assist in resolving any requirements raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.