My wife and I are planning to purchase a flat in Crowthorne and are in fact using a Crowthorne conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Halifax have this evening contacted us to advise us that there is now an issue as our Crowthorne solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also represent the purchaser's lender. 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 solicitor should contact your lender 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 bank's conveyancing panel and you may continue to use your own Crowthorne solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to use a local conveyancing solicitor in Crowthorne?
You should check but the chances are that appoint one of their panel solicitors where you take up the "fee-free" deal. Speak to the bank to ask if they make available a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Crowthorne.
Have just purchased a repossessed house at auction in Crowthorne. Conveyancing is needed. What is next?
Having exchanged you must choose a conveyancing practitioner as a matter of priority as you will have a pending a drop dead date to complete the transaction. An auction property will ordinarily have a bespoke auction pack. This should include most,if not all of the documents that your solicitor will need. If you have purchased leasehold premises the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must give this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete the transaction on the set completion date.
Can you help - my lawyer says that restrictive coveneant insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Crowthorne?
The appropriate level of restrictive coveneant indemnity insurance depends on your lender. It would differ for example between Santander and Virgin Money. Conveyancing solicitors as opposed to borrowers take out such policies.
Completion of my purchase has taken place for my property in Crowthorne. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Crowthorne is where the house is located. What do you suggest?
Flying freeholds in Crowthorne are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Crowthorne you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Crowthorne 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.
Looking forward to exchange soon on a studio apartment in Crowthorne. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Crowthorne should include some of the following:
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Alterations to the premises Repair and maintenance of the premises Does the lease require carpeting throughout thus preventing wood flooring? Responsibility to repair and maintain the block. It is important that you know which party is responsible the repair and maintenance of all parts of the block and communal areas Rent payments - how much and when you need to pay, and also know whether this is subject to change
I bought a split level flat in Crowthorne, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding flats in Crowthorne with over 90 years remaining are worth £211,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2092
You have 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
We have just had a bid accepted on our 1st house in Crowthorne, and are now looking to get solicitors instructed. I have used the numerous rating tools and the fee estimates are from all across the England and Wales. Is it critical to have a Crowthorne solicitor local to our prospective new home? I am content to do all the communicating over email, but I am thinking at some stage we will need to physically go into the conveyancer's office to sign documents?
The conveyancing practitioner does not have to be in Crowthorne, but opting for local means that you can go in if you need to, for instance, if a signature is needed urgently. Also, a Crowthorne solicitor have established relationships with local agents and (if the vendor has chosen a local property lawyer) with them, which will help smooth the process.