At what point does exchange of contracts occur in domestic conveyancing in Chipping Campden and am I required to attend the solicitors branch?

If you are in close proximity to our conveyancing solicitors in Chipping Campden you are invited in to sign the paperwork. That being said, the law practices we work with offer a nationwide conveyancing service and provide as equally detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not the important part. Signing on the dotted line is necessary for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Chipping Campden)to be in the office available at the end of the phone to exchange contracts.

I happen to be the sole beneficiary of my late mum's estate and I have everything in my name now, including the my former home in Chipping Campden. The Chipping Campden property was put into my name in August. I want to move. I do know about the CML 6 month 'rule', which means that my property ownership may be considered the same way as though I had purchased the property in August. Do I have to wait half a year 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 caught by that. many lenders would take a sensible view as this obligation is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of property.

I'm spending time viewing flats in Chipping Campden and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Kent Reliance.

You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are obtaining a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.

Virgin Money have agreed my mortgage in principle, my bid on a property in Chipping Campden has been accepted, what happens next?

Your property agent will want to know who your solicitors are (make sure the solicitors are on the lender’s approved list). Contact Virgin Money or your financial adviser and finish off any relevant documentation. Virgin Money will appoint a valuer who will get in touch with the selling agent or seller to schedule a time for the valuation to take place. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Virgin Money will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Chipping Campden.

How do I use your search app to select a conveyancing practitioner in Chipping Campden on the approved list for my bank?

First choose a mortgage company such as Nationwide Building Society, Chelsea Building Society or Britannia then choose your location a common one being Chipping Campden. Conveyancing firms in Chipping Campden and nationally should be listed.

I am looking at a couple of apartments in Chipping Campden which have in the region of 50 years left on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Chipping Campden is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chipping Campden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I bought a basement flat in Chipping Campden, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Chipping Campden with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2087

With just 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

I am purchasing a flat mortgage free. I have provided lawyer with 2 distinct forms of photographic identification, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer advising that the money is legitimate and that it has come from inheritance and not selling fake DVD.

In today’s world you will not be able to complete any Chipping Campden conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Evidence of your source of funds is required under Money Laundering Regulations.