My husband and I are purchasing a 3 bedroom flat in Chippenham with a loan from Clydesdale.We have a Chippenham conveyancing practitioner but Clydesdale informed us she’s not listed on their "panel". We have to appoint a Clydesdale panel firm or keep our local solicitor and fork out for a Clydesdale panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Clydesdale use our lawyer?
Unfortunately,no. The home loan issued to you contains terms and conditions, one of which will be that solicitors needs to be on the Clydesdale conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Clydesdale
How does conveyancing in Chippenham differ for new build properties?
Most buyers of new build or newly converted property in Chippenham come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because developers in Chippenham tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Chippenham or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Chippenham 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 Chippenham in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
What does commercial conveyancing in Chippenham cover?
Chippenham conveyancing for business premises incorporates a wide array of services, offered by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
In my capacity as executor for the will of my grandmother I am selling a house in Swansea but live in Chippenham. My solicitor (based 235 kilometers awayrequires that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Chippenham who can attest this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Chippenham based
What are the frequently found problems that you witness in leases for Chippenham properties?
There is nothing unique about leasehold conveyancing in Chippenham. Most leases are unique and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
Chippenham Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Best to be warned if fixing the lift or some other significant cost is coming up that will be shared by the leasehold owners and could well materially impact the level of the service charges or require a one off invoice. Is the freehold reversion owned jointly by the leaseholders?