I am in the throes of transferring my domestic home loan to a BTL Coventry Building Society mortgage. I have been informed by my broker that I need a solicitor for this. I got in contact with my previous Cheltenham conveyancing solicitor who acted on my behalf when I previously purchased the property. The fee calculation sent of just over five hundred pounds has taken me by surprise as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The estimate fees seem a tad high. If you shop around you may be able to get the conveyancing a bit cheaper by perhaps £100 plus VAT. That being said, providing that you were happy with the assistance the firm gave you couldcome to regret opting for an an untested conveyancer. Remember to ensure that the conveyancer can represent Coventry Building Society. You can utilise our search tool to get a quote a Cheltenham conveyancing firm on the Coventry Building Society approved list of lawyers, which can often include conveyancing solicitors in Cheltenham.
Me and my partner are buying a property in Cheltenham. It might be a silly question but how we can trust a solicitor? On completion day we have to send funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
is it true that all Cheltenham solicitor practices on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
After what feels like an age I have had an offer on an apartment in Cheltenham agreed to, but there is a chain. The sellers have offered on somewhere, but it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Cheltenham. What do I do now? At what stage do I apply for the mortgage with Skipton?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Cheltenham conveyancing search costs, etc). First, you must check that your lawyer is on the Skipton conveyancing panel. Concerning the subsequent steps this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a rising market many buyers will apply for the mortgage with Skipton and pay for the valuation and only if it comes back ok would they pay their solicitor to move forward with the conveyancing in Cheltenham.
I need some quick conveyancing in Cheltenham as I have an ultimatum to exchange contracts in less than one month. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you have the choice not to have searches conducted although no conveyancer would advise that you don't. With plenty of history conveyancing in Cheltenham the following are examples of issues that can arise and therefore impact the marketability of the property: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
five months have gone by since my purchase conveyancing in Cheltenham completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Harry (my fiance) and I may need to rent out our Cheltenham ground floor flat temporarily due to a new job. We instructed a Cheltenham conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Cheltenham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Cheltenham Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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Who are the managing agents? Is anyone aware of any major works on the horizon that could increase the maintenance charges? How much is the yearly maintenance fee and ground rent?
Our lawyer in Cheltenham has identified a defect with the lease for the apartment we are purchasing in Cheltenham. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.