I am obtaining a mortgage with Halifax. I hope to retain the legal services of a Licensed Conveyancer in Cholsey. Does the Halifax Solicitor panel allow for Licensed Conveyancers?

The Halifax approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.

My partner and I intend to remortgage our apartment in Cholsey with Kent Reliance. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this form unique to the Kent Reliance conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?

On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

How does conveyancing in Cholsey differ for newly converted properties?

Most buyers of new build property in Cholsey approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Cholsey typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Cholsey or who has acted in the same development.

I'm converting the mortgage on my primary home to a buy to let loan with Britannia and intend to use the remaining equity towards a second property. The location we are interested in is Cholsey. Will your lawyers be able to act for both sets of banks and tie in the two deals?

Make use of our search tool on this site to be sure that the solicitors are approved by both mortgage companies. On the basis that they are the lawyer should be able to connect the two conveyancing matters but you should talk with you lawyer and make apparent your desired outcome and needs.

When it comes to leasehold conveyancing in Cholsey what are the most common lease defects?

Leasehold conveyancing in Cholsey is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

Insurance obligations Repairing obligations to or maintain parts of the property

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Leasehold Conveyancing in Cholsey - Examples of Queries before Purchasing

Most Cholsey leasehold properties will have a service charge for maintenance of the block set on behalf of the management company. Where you buy the property you will have to pay this amount, usually periodically during the year. This can be anything from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent for you to pay annual, ordinarily this is not a significant figure, say around £25-£75 but you need to enquire as on occasion it could be surprisingly expensive. Are any of leasehold owners in dispute over their service charge liability? Is anyone aware of any major works on the horizon that will increase the service fees?