As a novice what is the most important advice you can give me concerning purchase conveyancing in Chepstow?
You may not hear this from too many lawyers but conveyancing in Chepstow and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for confrontation between you and others involved in the house moving process. E.g., the vendor, estate agent and sometimes a mortgage company. Choosing a law firm for your conveyancing in Chepstow should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the process whose role it is to act in your best interests and to keep you safe.
Every so often a third party with a vested interest may try and convince you that it is in your interests to do things their way. As an example, the selling agent may claim to be assisting by suggesting your conveyancer is wrong. Or your financial adviser may advise you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties in the home moving process.
Are all Chepstow Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
We were going to get a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Chepstow solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Chepstow solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I currently have a mortgage with Nationwide for my property in Chepstow. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention prior to renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. You need not do this via a Nationwide conveyancing panel lawyer.
About to purchase a new build apartment in Chepstow. Conveyancing is daunting 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 are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Chepstow
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I decided to have a survey carried out on a property in Chepstow ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies will refuse to issue a mortgage on such a property.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Chepstow. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chepstow to see if the conveyancing costs will increase in light of this.
I need to appoint a conveyancing solicitor for my conveyancing in Chepstow. I happened to chance upon a site which seems to have the perfect solution If it is possible to get all formalities done via web that would be ideal. Should I be wary? What should out be looking out for?
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 today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Chepstow. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Chepstow ?
The majority of houses in Chepstow are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Chepstow in which case you should be looking for a Chepstow conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
Leasehold Conveyancing in Chepstow - A selection of Questions you should consider Prior to buying
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What restrictions exist in the Chepstow Lease? Who takes responsibility for maintaining and repairing the block? Be sure to discover if the the lease includes any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in in a block in Chepstow. If you like the apartmentin Chepstow but your cat can’t make the move with you then you have a very hard decision.