My mortgage broker says he needs my Chepstow law firm’s panel reference for the Nat West conveyancing panel. What is the best way to discover this. I have e-mailed my local Chepstow branch but they have not responded to me.
Have you tried speaking to your Chepstow solicitor about this?. They maintain a central record lender panel numbers.
I am hoping to move into my new home in Chepstow next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Chepstow.
How easy is it to use the search tool to choose a conveyancing practitioner in Chepstow on the approved list for my lender?
First choose a bank such as Lloyds TSB Bank, Norwich and Peterborough Building Society or Bank of Ireland then specify your location e.g. Chepstow. Conveyancing practices in Chepstow and nationally should be shown.
I have just started marketing my 2 bed flat in Chepstow. Conveyancing is yet to be initiated, however I have just had a quarterly maintenance charge demand – what should I do?
The sensible thing to do is discharge the service charge as normal because all rents and maintenance charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a 2 bed flat in Chepstow, conveyancing having been completed in 2011. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Chepstow with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2091
You have 72 years unexpired the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
There are plenty of houses in Chepstow on private lanes. I am purchasing one such property. Are there any advantages to purchasing a residence on a privately owned road?
Chepstow conveyancing lawyers are used to dealing propertieson private. Your conveyancing practitioner will investigate title to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that residents make annual payments for the upkeep of the road. Where there is one, the road should be maintained and look better than publicly owned.