My fiance and I are intent on buying residence in Egham. My Solicitor has never been on on the mortgage company solicitor list. Am I still permitted to continue with my Egham conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?
You will need to instruct a property lawyer to deal with the legal work required when you need a mortgage to buy your property. They will conduct all the appropriate legal checks on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is in place. One may appoint a Egham property lawyer of your choice. Nevertheless, if the conveyancing practitioner selected is not on the bank solicitor panel additional fees will arise as separate legal representation will be need by the bank. Bank panel applications can be submitted, so where your conveyancer has not historically applied for membership they can do so.
We are soon to complete on the purchase of a house in Egham but as a result of damage from a small fire at the property I have managed to agree compensation from the owner in the sum of £3k in the form of a deduction in the price. I had intended this to be addressed as part of amending the contract but Yorkshire BS will not permit this. Should they have been informed?
The property lawyer that is on a Yorkshire BS approved list is required to advise Yorkshire BS of any changes to the sale price. If you prohibit your property lawyer to disclose the reduction to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new property lawyer for your conveyancing in Egham.
I have been told by my solicitor that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Egham?
The appropriate level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
is it true that all Egham conveyancing solicitors on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Principality conveyancing panel they would need to be governed by the SRA. The majority of lenders do permit licenced conveyancers on their panel and in that case the practice would be regulated by the Council of Licensed Conveyancers.
I recently had an offer accepted on an apartment in Egham. My financial adviser pressured me to appoint their lawyer. I paid an on account payment of £175. A couple of days later, the conveyancer contacted me to say that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Is it necessary to take out insurance to address the risk of chancel repairs when acquiring a property in Egham?
Unless a previous acquisition of the premises completed after 12 October 2013 you can take it that solicitors carrying out conveyancing in Egham to continue to recommend a chancel search and or insurance against a claim.
Last December I purchased a leasehold flat in Egham. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
We have reached the end of our tether in negotiating a lease extension in Egham. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the amount due.
An example of a Lease Extension case for a Egham property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The unexpired lease term was 82.93 years.
There are plenty of houses in Egham on private lanes. My partner and I are purchasing such a house. Are there any benefits to purchasing a property on a privately owned road?
Egham conveyancing practices are well versed in conveyancing houseson private. The property lawyer should review the title to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that proprietors make annual contributions to maintain the road. If there is one, the road should be maintained and appear nicer than council owned.