At what point can the exchange of contracts occur in domestic conveyancing in Cheltenham and am I required to attend the solicitors office?
If you are round the corner to our conveyancing solicitors in Cheltenham you are invited in to sign documents. That being said, the lender approved solicitors we work with offer a nationwide conveyancing service and provide just as comprehensive and professional a job for you when communicating with you electronically. The signing of the property agreement is not the point of no return. A signed contract is necessary for the conveyancer to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Cheltenham)to be in the office available at the end of the phone to exchange contracts.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Cheltenham. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
A colleague pointed out to me me that in buying a property in Cheltenham there may be various restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of a number of properties in Cheltenham which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Cheltenham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am buying a property in Cheltenham. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Coventry BS your lawyer must comply with the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties countrywide and is not limited to Cheltenham.
Completion of my remortgage has taken place for my property in Cheltenham. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My friend advised me that where I am buying in Cheltenham I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Cheltenham conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Cheltenham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Cheltenham Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Cheltenham.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Cheltenham I like with open areas and transport links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Cheltenham suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Should I be suspicious that 3rd parties that I am dealing with are recommending a web based conveyancing firm as opposed to a High Street Cheltenham conveyancing company?
As is the case with many professional services, often input from family and friends can be extremely useful or valuable. But there are lots of players in a conveyancing deal; estate agents, financial adviser and mortgage companies might all suggest solicitors to retain. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You are free to appoint your preferred lawyer. You need to be aware that most lenders operate an approved list of conveyancers you must use for the lender related work in your transaction.