Me and my fiance are planning to buy a 1 bedroom apartment in Ascot with a mortgage. We would like to retain our Ascot solicitor, however the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our Ascot property lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Ascot conveyancing solicitor to apply to be on the conveyancing panel.
We note that you have a post code search directory listing law firms on the Kent Reliance conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Ascot?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ascot.
I have been told that property searches are the primary cause of obstruction in Ascot conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Ascot.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Ascot is where the house is located. Can you offer any guidance?
Flying freeholds in Ascot are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ascot 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 Ascot may ascertain 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 property.
Hoping to buy a property located in Ascot and I am already nervous. I couldn't find anything specific about Ascot. Conveyancing will be needed in due course but do you know about the Ascot area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Ascot. In the meantime here are some basic statistics that we found
I am hoping to exchange soon on a leasehold property in Ascot. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Ascot should include some of the following:
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The total ownership of the property. This could be the property itself but could also include a roof space or storage are if applicable. You would want to receive a copy of the lease Does the lease prohibit wood flooring? if lease has a provision for a slush fund for major repairs? What the implications are if you are in breach of your lease terms?
Leasehold Conveyancing in Ascot - Sample of Queries Prior to Purchasing
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Is the freehold owned collectively by the leaseholders? On the whole the cost for major works are not built into the service charges, although there some managing agents in Ascot obliged tenants to contribute towards a reserve fund and this is used to offset against major repairs or maintenance.