As I am unsure how the conveyancing process works what is the most important advice you can give me regarding purchase conveyancing in Cheltenham?
Not many law firms or advisers will tell you this but conveyancing in Cheltenham or throughout Gloucestershire is often a confrontational process. In other words, when it comes to conveyancing there is lots of room for conflict between you and others involved in the transaction. E.g., the seller, selling agent and sometimes the mortgage company. Choosing a law firm for your conveyancing in Cheltenham is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose role it is to protect your legal interests and to protect you.
Every so often a potential adversary may try and sway you that you should follow their advice. For example, the property agent may claim to be assisting by claiming that your conveyancer is slow. Or your mortgage broker may tell you to do take action that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am helping my aunt sell her house in Cheltenham. Does the solicitor arrange the EPC or should I organise this?
Following the abolition of HIPs, energy assessments was retained a mandatory component of selling a property. An energy performance certificate must be commissioned prior to the property being marketed. It is not a task that lawyers normally arrange. Where you are instructing a Cheltenham conveyancing solicitor they may be willing to arrange EPC’s given their relationships with reputable local providers
A friend advised me that in purchasing a property in Cheltenham there may be a number of restrictions preventing external changes to a property. Is this right?
There are a number of properties in Cheltenham which have some sort of restriction or requirement of consent to perform 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.
We had instructed solicitors located in Cheltenham on the HSBC solicitor approved list. They have just billed me a further sum for dealing with the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer is entitled to charge a fee for this. The charge is not set by HSBC but by your Cheltenham solicitor. Numerous firms on the HSBC panel will quote an ‘acting for lender’ fee and others do not.
How does conveyancing in Cheltenham differ for new build properties?
Most buyers of new build residence in Cheltenham approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Cheltenham typically purchase 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 Cheltenham or who has acted in the same development.
How do I use your search app to choose a conveyancing lawyer in Cheltenham on the panel for my mortgage?
Step one is to choose a lender such as HSBC Bank, Bank of Scotland or Nottingham Building Society then specify your location a common one being Cheltenham. Conveyancing organisations in Cheltenham and further afield will then be shown.
Last October I purchased a leasehold property in Cheltenham. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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 2 bed flat in Cheltenham, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Cheltenham with a long lease are worth £179,000. The average or mid-range amount of ground rent is £65 per annum. The lease runs out on 21st October 2083
With just 58 years unexpired we estimate the price of your lease extension to range between £25,700 and £29,600 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional 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 placing reliance on this information without first getting professional advice.
Our solicitor in Cheltenham has uncovered a defect with the lease for the flat we are buying in Cheltenham. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.