We were about to retain a conveyancing solicitor in Cheddar listed on your site but have come across alternative quotes via the web look less pricey – how come?
There are a variety of solicitors offering theoretically looks to be extremely cheap conveyancing in Cheddar. We suggest that you think long and hard about how important this transaction is to you that want to take 'cheap' risks with regard to the standard of the conveyancing. Many of them highlight a budget quote as a headline but hide supplemental costs in the small print..
I am about to put a bid on a leasehold apartment in Cheddar. The estate agents tell me that it is usual for flats in Cheddar to have less than 75 years remaining. I am expecting a loan with Chelsea Building Society. Will the property be mortgageable given that the lease has 70 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/12/2024 the requirements read as follows :
My aunt pointed out to me me that in buying a property in Cheddar there could be various restrictions preventing external changes to a property. Is this right?
There are a number of properties in Cheddar which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Cheddar should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My partner and I are at the point of viewing flats in Cheddar and I am now considering a potential offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with Nottingham.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are obtaining a mortgage with Nottingham, make sure you remember to check that your lawyer is on the Nottingham conveyancing panel.
I am selling my apartment. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Principality are being pedantic. The Cheddar solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I'm buying my first flat in Cheddar benefiting from help to buy. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not disclose to my lawyer about the deal as it will affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a ground for flat up to £305k and identified one close by in Cheddar I like with a park and railway links nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Cheddar suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be an issue. Reduce the offer by the anticipated 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 may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Cheddar. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Cheddar ?
The majority of houses in Cheddar are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Cheddar in which case you should be shopping around for a Cheddar conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.
I am the registered owner of a basement flat in Cheddar, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Cheddar with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2095
With just 71 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.