I am purchasing a ground floor flat in Tewkesbury. My Conveyancer is not on the bank approved panel. Is it possible for me to retain my Tewkesbury conveyancing solicitor even though they are excluded from the lender approved list?
You have a number of choices open to you here
- Complete the deal with your preferred Tewkesbury conveyancing practitioner but your bank will undoubtedly retain a solicitor on their conveyancing panel. The net result is additional charges and potential delay.
- Get a fresh property lawyer to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Appeal to your solicitor to seek to join the bank panel
I am the sole beneficiary of my late mum's estate with all property in now in my sole name, including the house in Tewkesbury. The Tewkesbury property was put into my name in March. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be regarded the same way as if I'd bought the property in March. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Most banks would take a pragmatic view as this clause principally exists to capture the purchase and immediately sell or the flipping of properties.
I am currently in the process of buying my council flat in Tewkesbury. I have a mortgage agreed with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Tewkesbury is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should our lawyer be raising questions about flooding as part of the conveyancing in Tewkesbury.
The risk of flooding is if increasing concern for solicitors dealing with homes in Tewkesbury. There are those who acquire a house in Tewkesbury, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Tewkesbury. The standard information given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover if the property has ever been flooded. In the event that flooding has previously occurred which is not notified by the vendor, then a buyer may commence a legal claim for losses as a result of such an misleading answer. The purchaser’s solicitors should also conduct an environmental search. This should disclose if there is any known flood risk. If so, additional inquiries will need to be made.
Am I better off to use a Tewkesbury conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can conduct the conveyancing however her office is a couple of hundredkilometers away.
The primary upside of using a high street Tewkesbury conveyancing firm is that you can attend the office to sign documents, hand in your identification documents and pester them where appropriate. Having local Tewkesbury know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and in the main were happy that must trump using an unknown Tewkesbury conveyancing solicitor solely due to them being Tewkesbury based.
Having had my offer accepted I require leasehold conveyancing in Tewkesbury. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Tewkesbury - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a ground floor flat in Tewkesbury, conveyancing was carried out July 1998. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Tewkesbury with a long lease are worth £202,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2081
With just 56 years left to run we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to 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.
We are in the process of buying a flat in Tewkesbury. Can our property lawyer have our transaction price confidential from sites such as Zoopla. Is this possible and how?
HM Land Registry by statute are obliged to reveal price sold data on a register of the title for residential properties nationwide including premises in Tewkesbury. The register of title is a public document, so HMLR would be breaking the law if they did not grant access to the register.
You can make a request of the Land Registry to hide the price paid entry but the response will be in the negative.