My partner and I changing mortgage lender for our apartment in Coleford with Principality. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Principality conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality. This is solely used to protect Principality if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
About to place a bid on a leasehold flat in Coleford. The estate agents tell me that it is usual for flats in Coleford to have less than 75 years unexpired on the lease. I am taking out a mortgage with Tesco Bank. Will the property be mortgageable given that the lease has 72 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 28/6/2025 the requirements read as follows :
My aunt pointed out to me me that in buying a property in Coleford there may be various restrictions affecting the ability to carry out external changes to a property. Is this right?
There are a number of properties in Coleford which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Coleford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as HSBC, do Coleford lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I was told two weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Coleford is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
Am I right to be suspicious about brokers that I am dealing with are recommending an internet conveyancing firm as opposed to a local Coleford conveyancing firm?
As is the case with many service providers, often referrals from relatives can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing deal; estate agents, financial adviser and mortgage companies may recommend solicitors to instruct. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the right to appoint your own lawyer. Don't forget that many lenders have an approved list of lawyers you are obliged to use for the mortgage related work in your home move.
Estate agents have just been given the go-ahead to market my ground floor flat in Coleford. Conveyancing is yet to be initiated, but I have just received a yearly maintenance charge demand – what should I do?
It best that you clear the maintenance contribution as usual as all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a basement flat in Coleford, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Coleford with an extended lease are worth £260,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2100
With just 75 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
What is the best way to find the right lawyer for my conveyancing in Coleford ?
Option 1 is to ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to use a search tool on the web for conveyancing in Coleford. Phone two or three from the list and request that they email you their conveyancing fees and discuss your needs with the solicitor who will handle your conveyancing before you commit. Option 3 is to use this site to help you find the right solicitors taking into account your unique factors including location,speed, complexity and who your intended lender is.Do not be fooled by £99 conveyancing solicitors in Coleford