Is the fact that my solicitor in Cheltenham is not on my lender's conveyancing panel that there is a problem with the standard of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Cheltenham conveyancing practice and enquire why they are no longer on the approved list for your bank.
Is there a reason why leasehold purchase conveyancing in Cheltenham is more expensive?
In short, leasehold conveyancing in Cheltenham and elsewhere usually involve more work compared to freehold transactions. This includes lease investigation, communicating with the landlord about serving appropriate notices, securing current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
I have a mortgage with Virgin Money for my property in Cheltenham. Conveyancing was finalised 12 months ago. In the event that I decide 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 Virgin Money?
You must advise Virgin Money before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies 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 Virgin Money directly. You need not do this via a Virgin Money conveyancing panel firm.
Planning on purchasing a flat in Cheltenham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cheltenham property lawyer is on the Coventry BS conveyancing panel.
After what feels like an age I have had an offer on an apartment in Cheltenham accepted, the vendors do however have a dependent purchase. The owners have put an offer on somewhere, but it’s not yet agreed to, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in Cheltenham. What should be my next step? At what stage do I apply for the mortgage with Coventry BS?
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 (home loan application is in the region of one thousand pounds, then valuation, Cheltenham conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Coventry BS conveyancing panel. Regarding the subsequent phase this very much dictated by the uniqueness of your case, attraction to the property and on the state of the market. During a hot market many buyers would apply for the mortgage with Coventry BS and pay for the valuation and only if it comes back ok would they ask their solicitor to proceed with the conveyancing in Cheltenham.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Cheltenham is where the house is located. Can you offer any opinion?
Flying freeholds in Cheltenham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cheltenham you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cheltenham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
As co-executor for the estate of my father I am disposing of a house in Monmouth but live in Cheltenham. My solicitor (based 235 miles awayrequires that I sign a stat dec before completion. Can you recommend a conveyancing practitioner in Cheltenham who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Cheltenham based