My lawyer has identified a a problem with the lease for the flat we are buying in Cholsey. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender conditions have to be complied with.
We see that you have a post code search directory listing law firms on the Skipton conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Cholsey?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Cholsey.
I am assisting my step-mother sell her property in Cholsey. Will the solicitor order an energy assessment or it is for the seller to see to?
After the demise of HIPs, EPC’s was left as a mandatory element of selling a property. An energy assessment should be to hand in advance of the property being advertised. It is not something that law firms ordinarily arrange. If you are using a Cholsey conveyancing practitioner they might be able to arrange energy assessments given their contacts with long established local energy assessors
My husband and I have arranged the release of further monies on our mortgage from Leeds Building Society as we want to conduct a loft conversion to our house in Cholsey. Are we obliged to select a nearby Cholsey solicitor on the Leeds Building Society conveyancing panel to handle the legals?
Leeds Building Society do not ordinarily instruct firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
I am selling my flat. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Bank of Ireland are being problematic. The Cholsey solicitor who is on the Bank of Ireland conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland 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.
Last February I purchased a leasehold house in Cholsey. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a garden flat in Cholsey, conveyancing was carried out in 2000. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Cholsey with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease finishes on 21st October 2088
With just 69 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Do online conveyancing companies undertake everything a local Cholsey solicitor does or must I employ a solicitor for the final stages for my conveyancing in Cholsey?
If you use an online conveyancer they should cover all the tasks your Cholsey solicitor would cover.