My partner and I are hoping to purchase a flat in Cheddar and are in fact using a Cheddar conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. TSB have this afternoon contacted us to advise us that there is now an issue as our Cheddar conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see 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 the lender’s conveyancing panel and you may continue to use your own Cheddar solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Why is leasehold purchase conveyancing in Cheddar costs more?
The conveyancing costs on a leasehold property in Cheddar is frequently higher when contrasted to a freehold transaction. This is due to the extra investigations required in liaising with the landlord and managing agents to collate the information concerning whether the rent and service charges have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
I am aiming to move house in February. Should my conveyancing solicitor liaise with the removal company on the completion day. On a separate note, can you put forward a removal company in Cheddar. Conveyancing firm was found prior to coming across this site.
On the day of completion you can pick up the keys from the selling agent however this should only be done when the previous owners lawyers inform the agent that they have the completion monies and the keys can be released. After that you can tell the removal company that they can start moving you in. As a matter of policy we do not recommend a particular removal organisation but can help you find a conveyancing in Cheddar or a firm that specialises in conveyancing in Cheddar.
Can I be sure that the Cheddar conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Cheddar seeking recommendations is a good start. 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 advocate that you speak with the solicitor handling your transaction.
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Yorkshire BS are being a right pain. The Cheddar solicitor who is on the Yorkshire BS conveyancing panel is saying indemnity insurance will be fine but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
I need to retain a conveyancing solicitor for sale conveyancing in Cheddar. I have land on a web site which seems to have the perfect solution If there is a chance to get all this stuff completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I wish to rent out my leasehold flat in Cheddar. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A lease dictates the relationship between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Cheddar do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I inherited a ground floor flat in Cheddar, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Cheddar with over 90 years remaining are worth £206,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2090
With 66 years unexpired the likely cost is going to be between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.