Do conveyancers request money on account when it comes to conveyancing in Chepstow?

If you are buying a property in Chepstow your lawyer will request that you put them with funds to cover the the cost of the conveyancing searches. Normally this is requested to cover the fees of the Local Authority Search. When the deposit is payable against the total price then this should be asked for shortly ahead of contracts are exchanged. Any further balance that is due should be sent to your lawyer shortly before completion.

My flat in Chepstow is up for sale and I have a purchaser. Will my conveyancer have to be required to be on the Bank of Ireland conveyancing panel in order to deal with repayment of my mortgage?

Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.

I am looking for a ground for flat up to £245,000 and identified one round the corner in Chepstow I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Chepstow suitable, so just wondered if I would be making a grave error purchasing a short lease?

If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.

I am a sole trader planning to lease a unit on the high street. Can you recommend lawyers offering fixed fees for commercial conveyancing in Chepstow for under 2k?

We can recommend firms who have an in-depth of experience of commercial conveyancing in Chepstow, including the sale and purchase of businesses as well as simply property. Whether you are looking to acquire or lease a shop, pub, restaurant, office, retail premises or a complete business we can find you the right solicitor. As for the costs this will depend on the structure and complexity of the deal. Please provide us with your details or email us so that we may furnish you with comprehensive commercial conveyancing quote.

I am hoping to sign contracts shortly on a garden flat in Chepstow. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Chepstow should include some of the following:

It needs to be made clear to you whether the lease allows you to change or upgrade aspects of the flat- you should know whether any restrictions applies to all alterations or limited to structural alteration, and whether licences for alterations is mandated necessary What remedies are open the freeholder should you are in breach of your lease terms? Are you allowed to have a pet in the flat? You should be advised what constitutes a Nuisance as far as the lease is concerned Repair and maintenance of the premises

I purchased a ground floor flat in Chepstow, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Chepstow with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2084

With 59 years unexpired we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.