Do lenders provide you with an approved list of Cheltenham conveyancing solicitors? How do you know who is on the Skipton conveyancing panel?
Cheltenham conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
Can I be sure that the Cheltenham conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Cheltenham getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor handling your transaction.
We have agreed to purchase a house in Cheltenham. One unusual aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Leeds Building Society your lawyer must check the conveyancing instructions contained in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Leeds Building Society where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties in England and Wales and is not isolated to Cheltenham.
I am due to exchange contracts on my flat. I had a double glazing fitted in November 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Santander are being problematic. The Cheltenham solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase a new build apartment in Cheltenham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cheltenham
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I work for a reputable estate agency in Cheltenham where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Cheltenham conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a studio flat in Cheltenham, conveyancing formalities finalised June 2006. Can you work out an approximate cost of a lease extension? Equivalent flats in Cheltenham with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2089
With 65 years unexpired the likely cost is going to be between £13,300 and £15,400 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
I require the services of a mortgage company panel solicitor in Cheltenham. Can you assist?
Unfortunately it’s not apparent why you need a Cheltenham panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Cheltenham are on their panel . If you do find such a firm in Cheltenham not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site