We are purchasing a 3 bedroom flat in Basingstoke with a mortgage. We like our Basingstoke lawyer, however the mortgage company says he's not on their "panel". We have to appoint one of the bank panel solicitors or keep our Basingstoke conveyancer as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Basingstoke conveyancing lawyer to apply to be on the conveyancing panel.
Why do I have to pay up front for conveyancing in Basingstoke?
Where you are retaining lawyers for conveyancing in Basingstoke your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the deposit is as part of the total price then this should be needed shortly in advance of contracts are exchanged. Any further balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.
How do I check that the solicitor conducting my conveyancing in Basingstoke is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus spending £187.00 plus VAT in additional conveyancing fees.
Please do make the most of the search tool on this site. Please choose the mortgage company and type ‘Basingstoke’ or your location and you will see a number of lawyer located in Basingstoke or near you.
My cousin has recommend that I instruct his lawyers for conveyancing in Basingstoke. Should I find my own solicitor?
There are no two ways about it the ideal way to find a conveyancing lawyer is to seek guidance from friends or relatives who have actually previously instructed the solicitor you're contemplating using.
Planning to exchange soon on a garden flat in Basingstoke. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Basingstoke should include some of the following:
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specifics of the parties to the lease, e.g. these could be the leaseholder, superior lessor, landlord Rent payments - what is payable and what the invoice dates are, and be on notice if this is subject to change Additions to the premises Who has the liability to repair and maintain the building. It is essential for you to know which party is liable for the repair and maintenance of every part of the building Does the lease prevent you from subletting the property, or having a home office for business
Basingstoke Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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If a Basingstoke lease has less than eighty years it will affect the marketability of the flat. Check with your bank that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would be be obliged to have been the owner of the premises for 24 months before you are legally able to extend the lease. For most Basingstoke leaseholds the cost for major works tend not to be included within maintenance charges, although a few managing agents in Basingstoke require tenants to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. This question is useful as a) areas can cause problems for the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the leasehold owners have a dispute with the running of the building you will want to have all the details
When it comes to my conveyancing in Basingstoke should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Basingstoke conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.