I am not well enough to travel far from Cheltenham. What is the rationale as to why all Cheltenham conveyancers aren't automatically on all lender panels?
A decade ago most banks displayed an approach to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. As a result, lenders have since looked to extract more data from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum volume of transactions the lenders set.
A colleague pointed out to me me that in purchasing a property in Cheltenham there may be a number of restrictions limiting what one can do in terms of external alterations to a property. Is this right?
We are aware of anumerous of properties in Cheltenham which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Cheltenham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the single recipient of my late mum's estate and I have everything in my name now, including the house in Cheltenham. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the property in August. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most lenders would take a sensible view as this requirement is chiefly there to pick up on subsales or the flipping of property.
I have a mortgage with Bank of Ireland for my property in Cheltenham. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval in advance of renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel solicitor.
Me and my brother purchased a semi-detached Georgian property in Cheltenham. Conveyancing lawyer acted for me and TSB. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the exact same property. Is it worth asking TSB to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cheltenham and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
I am downsizing from my house. My past solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Cheltenham if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Cheltenham. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
In my capacity as executor for the estate of my aunt I am selling a house in Monmouth but I am based in Cheltenham. My solicitor (based 200 miles from mehas requested that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Cheltenham to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Cheltenham based
Last April I purchased a leasehold property in Cheltenham. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 1st floor flat in Cheltenham, conveyancing was carried out in 2010. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Cheltenham with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2090
With only 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 plus legals.
The suggested premium range 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 the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.