Why do I have to pay up front for conveyancing in Cotswolds?
If you are buying a property in Cotswolds your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. When the down payment is as part of the purchase price then this should be needed shortly before exchange of contracts. The final balance that is needed will be payable a few days ahead of the completion date.
I own a 4 bedroom Georgian house in Cotswolds. Conveyancing practitioner represented me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same address. Is it worth asking The Royal Bank of Scotland to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cotswolds and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
I am looking for a ground for flat up to £245,000 and identified one close by in Cotswolds I like with open areas and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Cotswolds for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I am a sole trader intending to lease a unit on a shopping parade. Can you recommend lawyers offering fixed fees for non-domestic conveyancing in Cotswolds for under £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Cotswolds, including the disposal and purchase of businesses as well as simply premises. If you are looking to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. As for the fees this will depend on the structure and complexity of the deal. Let us have your contact information or phone so as to enable us to furnish you with comprehensive commercial conveyancing quote.
My wife and I are purchasing a 2 bedroom flat in Cotswolds. At the time of instructing our solicitor, they said that they were on all mainstream lender panels. Our financial adviser emailed yesterday to advise that they don't appear to be on the HSBC approved list. Should that be true, what should we do? Should we just find a different property lawyer that is on their panel or do we cover the costs for separate representation, with HSBC selecting their own approved conveyancer.
When acquiring a property with mortgage finance it is standard for the buyer’s lawyers to also represent the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancing practitioner has to satisfy. Some building societies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancing practitioner should contact HSBC to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on HSBC's conveyancing panel as you are at liberty to use your preferred Cotswolds lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.