It has taken forever and a day but a mortgage agreement from HSBC for the remortgage of my single bedroom garden flat is due imminently. Could you propose a low cost conveyancing solicitor in Gloucestershire?
You have arrived at the wrong site to search for the cheapest conveyancing in Gloucestershire. We can offer you excellent value conveyancing but we do not advertise as being the cheapest. Resist the temptation to appoint brokers teasing you with ninety nine pound conveyancing in Gloucestershire. Optimistically, in choosing a lawyer for cheap conveyancing, you will get your money’s worth and at worst you will end up spending a lot in additional fees and still not get the service expected.
Due to complete my purchase in Gloucestershire next Thursday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the bank expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not specific to conveyancing in Gloucestershire.
four months have elapsed since my purchase conveyancing in Gloucestershire concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Gloucestershire differ for newly converted properties?
Most buyers of new build property in Gloucestershire come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Gloucestershire usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Gloucestershire or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Gloucestershire is where the house is located. Can you offer any guidance?
Flying freeholds in Gloucestershire are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Gloucestershire you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gloucestershire 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 premises.