My financial adviser has requested my Gloucester solicitor’s panel member for the Nat West conveyancing panel. Can you suggest how I find this out. I have contacted my local Gloucester branch but they cant find it on their system.
Have you tried contacting your Gloucester conveyancer about this?. Most Gloucester law firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
Our conveyancer has discovered a a problem with the lease for the apartment we are purchasing in Gloucester. 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 he must be satisfied that the lender is content with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender requirements have to be complied with.
I am purchasing a property and need a conveyancing solicitor in Gloucester who is on the Accord Mortgages Ltd approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Gloucester. We dont recommend any particular firm.
Are there restrictive covenants that are commonly picked up during conveyancing in Gloucester?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Gloucester. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Gloucester is the location of the property. What do you suggest?
Flying freeholds in Gloucester are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gloucester you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gloucester may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Gloucester. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Gloucester ?
The majority of houses in Gloucester are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Gloucester so you should seriously consider shopping around for a Gloucester conveyancing practitioner and be sure 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 entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
I invested in buying a ground floor flat in Gloucester, conveyancing having been completed September 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Gloucester with an extended lease are worth £176,000. The ground rent is £50 yearly. The lease expires on 21st October 2105
With just 80 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.