At what point will exchange of contracts occur in sale conveyancing in Chepstow and do I need to be at the solicitors office?
Where you are local to our conveyancing solicitors in Chepstow you are welcome to attend to sign the paperwork. That being said, the law practices we work with supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line is just a prerequisite for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Chepstow)to be in the office at the appropriate time.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Chepstow. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this allowed?
Given you intend to refinance then Skipton will require that you use a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
I am buying a new build flat in Chepstow. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Chepstow
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Please confirm the Lease plans are architect prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Due to the advice of my in-laws I had a survey completed on a house in Chepstow ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some banks tend not issue a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chepstow. Conveyancing may be slightly more expensive based on your lender's requirements.
We are 14 days into a residential purchase having been directed to a firm by the high street agent to execute conveyancing in Chepstow. I am am starting to be frustrated with the level of service. Can you you assist me in finding new solicitors?
They would have to be very poor in order to consider changing them. Has the mortgage offer been issued? If so you must make them aware of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your solicitor ideally needs to be on the banks panel to avoid added expenses and complications. That should be your starting point. Our search tool should help you find a bank approved lawyer for your home move in Chepstow
I have just started marketing my basement apartment in Chepstow. Conveyancing is yet to be initiated, but I have just had a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the maintenance contribution as normal given that all ground rent and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a 1st floor flat in Chepstow, conveyancing formalities finalised in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Chepstow with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease finishes on 21st October 2084
With 59 years unexpired the likely cost is going to be between £20,900 and £24,200 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.