The owners of the property we are hoping to buy hired a conveyancing firm in Cholsey who has insisted on a preliminary contract with a down payment 10k. Is it wise to enter into such agreements?
This form of preliminary agreement is not the norm in Cholsey, conveyancers are often found to direct clients away from them as they detract from the main conveyancing focus and if you end up having your deposit forfeited then the lawyer is left exposed. In addition, there is no guarantee that just because the vendor has executed a lock out agreement they will complete the sale with you. They may be tempted to break the agreement if they receive a big enough incentive to do so because a wronged claimant with the benefit of a lockout agreement will still be obliged show losses as a consequence of the breach and these may not compare to the financial upside that the owner may gain by breaching the agreement, however morally reprehensible that may be.
Do I need to pop into the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Cholsey so that I can pop in to their offices if necessary.
As opposed to 12 years ago, the vast majority mortgage companies no longer need their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to provide ID documents and there are still manifest advantages to using a locally based practitioner, in your situation a conveyancing solicitor in Cholsey.
My aunt pointed out to me me that in buying a property in Cholsey there could be various restrictions prohibiting external alterations to the property. Is this right?
There are anumerous of properties in Cholsey which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Cholsey should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I currently have a mortgage with Yorkshire BS for my property in Cholsey. 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 BTL mortgage or inform Yorkshire BS?
Yorkshire BS must be informed of your intention prior to letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS 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 Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel lawyer.
I recently had an offer agreed on a house in Cholsey. My mortgage broker recommended their conveyancers. I paid an advanced payment of £225. A few days later, the conveyancer called me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
In my capacity as executor for the estate of my father I am disposing of a property in Newport but live in Cholsey. My lawyer (who is 300 kilometers from mehas requested that I execute a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in Cholsey to 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 Cholsey
My wife and I purchased a leasehold house in Cholsey. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Cholsey who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Cholsey conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a ground floor flat in Cholsey, conveyancing having been completed May 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Cholsey with an extended lease are worth £222,000. The ground rent is £50 yearly. The lease ends on 21st October 2097
With only 71 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
How up-to-date is your search tool for the lender conveyancing panel in Cholsey? Do the mortgage companies send you an updated list?
Cholsey firms and firms carrying out conveyancing in Cholsey themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.