I am considering applying for a Coventry BS mortgage for purchase of a newly converted (under development) in Cheam with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
A relative informed me that in purchasing a property in Cheam there could be various restrictions as to what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in Cheam which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Cheam should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting a further advance on our mortgage from Virgin Money as we wish to conduct renovations to our property in Cheam. Are we obliged to choose a local Cheam solicitor on the Virgin Money conveyancing panel to handle the legals?
Virgin Money would not normally appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money conveyancing panel.
I can not work out if my lender requires a lease extension. I have telephoned my Cheam building society branch on various occasions and was advised it wasn't a problem and they would lend. My Cheam conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the lawyer is on the bank panel, she or he must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly identified during conveyancing in Cheam?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Cheam. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in Cheam I like with amenity areas and railway links nearby, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Cheam in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Am I best advised to use a Cheam conveyancing practitioner in close proximity to the house I am buying? We have a good friend who can perform the legal work however they are based a couple of hundredmiles away.
The benefit of a high street Cheam conveyancing firm is that you can visit the firm to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. Having local Cheam know how is a plus. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were happy that should outweigh using an unfamiliar Cheam conveyancing lawyer solely due to them being based in the area.
Completion is due on the disposal of our £225,000 maisonette in Cheam next Wednesday. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Cheam?
Cheam conveyancing on leasehold apartments usually involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to do so. They are entitled to charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to sell the property.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Cheam. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Cheam flat is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired lease term was 60.43 years.