I can't travel far from Cheltenham. I would like to know the understand why all Cheltenham property lawyers are not on all lender panels?
Lenders normally impose restrictions on either the type or volume of conveyancing solicitors on their panel. Typical examples of such criteria being that the organisation must have two or more partners. In addition to restricting the type of firm, some building societies made a decision to reduce the number of practices they use to represent them. It is worth noting that banks have no responsibility for the accuracy of conveyancing given by any Cheltenham conveyancer on their approved list. Increases in mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there are contrary points of view concerning the extent of solicitor involvement in some of that fraud. Statistics from HMLR exposes that thousands of conveyancing organisations only carry out one or two conveyances annually. Those advocating conveyancing panel cuts question why conveyancing firms should have claim to be listed on a bank panel when it is apparent that property law is not their primary expertise?
My stepmother informed me that in buying a property in Cheltenham there may be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
There are a number of properties in Cheltenham which have some sort of restriction or requirement of consent to external changes. 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 am the sole recipient of my late father’s will with all property in now in my sole name, including the my former home in Cheltenham. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most lenders would take a practical view as this requirement primarily exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
The mortgage over my property is with Nottingham for my property in Cheltenham. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
Your original mortgage agreement with Nottingham will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Nottingham directly. You need not do this via a Nottingham conveyancing panel lawyer.
I have a semi-detached Victorian house in Cheltenham. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner 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 buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
I am looking to sell my home. My previous lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Cheltenham if that makes things easier.
You should 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 runs smoothly.
In my capacity as executor for the estate of my aunt I am disposing of a residence in Swansea but I am based in Cheltenham. My lawyer (based 250 miles awayrequires that I execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Cheltenham who can witness this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Cheltenham
I've recently bought a leasehold property in Cheltenham. Am I liable to pay service charges for periods before my ownership?
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. However, 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 be sure 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 acquired a leasehold flat in Cheltenham, conveyancing formalities finalised in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Cheltenham with a long lease are worth £201,000. The ground rent is £45 per annum. The lease expires on 21st October 2090
With 64 years unexpired we estimate the price of your lease extension to range between £14,300 and £16,400 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.