Some advice if I may. My Cheltenham lawyer is informing me me that he is legally obliged toapply for Cheltenham conveyancing searches asthe firm are on the Nat Westconveyancing panel. Is my lawyer correct?

You have limited options available to you. As you are obtaining a home loan with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Cheltenham conveyancing searches.

we are a couple who are buying a purpose built apartment in Cheltenham with a homeloan from Barnsley Building Society.We use our Cheltenham conveyancing solicitor but Barnsley Building Society advised that she’s not listed on their "panel". we are left little option but to use a Barnsley Building Society panel firm or keep our preferred solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?

Unfortunately,no. The home loan offered to you is subject to its terms and conditions, a common one being that lawyers must be on the Barnsley Building Society solicitor panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Barnsley Building Society

I am the only recipient of my late mum's estate with all property in now in my sole name, including the house in Cheltenham. The Cheltenham property was put into my name in October. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership may be treated the same way as if I'd bought the house in October. Do I have to wait 6 months to sell?

The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most lenders would take a sensible view as this provision principally exists to identify the purchase and immediately sell or the quick reselling of property.

We previously selected conveyancers locally in Cheltenham on the Virgin Money solicitor approved list. They have just billed me an additional charge for dealing with the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?

Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your solicitor is entitled to charge a fee for this. This fee is not dictated by Virgin Money but by your Cheltenham solicitor. Plenty of firms on the Virgin Money panel will quote ’dealing with mortgage’ fee and others do not.

I have a mortgage with Nationwide for my property in Cheltenham. Conveyancing has been completed months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?

You must advise Nationwide in advance of letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide 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. It should not be necessary to do this via a Nationwide conveyancing panel firm.

What makes a Cheltenham lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Cheltenham. All leases are individual and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party. A duty to insure the building

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

Cheltenham Leasehold Conveyancing - Sample of Queries Prior to buying

You should be aware if it is fewer than 80 years it will affect the value of the property. Check with your bank that they are content with residual term of the lease. A short lease means that you will almost definitely have to extend the lease at some point and it is worth discovering how much this will be. For most Cheltenhamlease extensions you will need to own the property for 24 months in order to be entitled to extend the lease. Generally speaking the outlay for major works tend not to be built into the service charges, albeit that a few managing agents in Cheltenham ask leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger works.

Been reading online that Cheltenham solicitors are more costly than licensed conveyancers in Cheltenham to use when buying a house. So is it better if I use a conveyancer or a solicitor where I am buying a house in Cheltenham.

When it comes to conveyancing in Cheltenham the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.