My husband and I are looking to purchase a home in Wargrave and have instructed a Wargrave conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Halifax have this afternoon contacted us to inform me that they have now hit a problem as our Wargrave solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wargrave lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Can the conveyancing solicitors identified via your search tool carry out conveyancing in Wargrave by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct personalised exchanges. Do contact us to secure a fee calculation and details as to dates.
Why is leasehold purchase conveyancing in Wargrave is more expensive?
The conveyancing fees on a leasehold premises in Wargrave is inevitably more expensive when contrasted to a freehold property. This is because there is an amount of extra time necessary in communicating with the landlord and management company to collate the information about whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.
I am selling my apartment in Wargrave. Does my conveyancing practitioner have to be required to be on the Skipton conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Skipton 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 specifications fairly frequently at the moment.
I have justbecome aware that Stirling Law have closed. They carried out my conveyancing in Wargrave for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The quickest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wargrave conveyancing specialists.
I have just started marketing my garden flat in Wargrave. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would because all ground rent and maintenance invoices will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a studio flat in Wargrave, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Wargrave with a long lease are worth £206,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2091
You have 66 years unexpired we estimate the premium for your lease extension to be between £12,400 and £14,200 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account 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.