My husband and I are intent on purchasing a ground floor flat in Frimley. My lawyer has never been on on the mortgage company approved list. Can I still use my Frimley conveyancing solicitor notwithstanding that they are excluded from the lender panel?
You have numerous choices open to you here
- Carry on with your chosen Frimley conveyancer but your lender will undoubtedly appoint a conveyancer on their conveyancing panel. The net result is additional cost together with probable delay.
- Appoint a fresh lawyer to act in the purchase, making sure they are on the bank conveyancing panel.
- Convince your property lawyer to pull out all the stops to get listed on the bank’s panel of solicitors
All was ready to complete my purchase in Frimley next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not unique to conveyancing in Frimley.
Forgive me if this question is silly but I am unexperienced as a first time buyer of a garden flat in Frimley. Do I collect the keys to the property on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Frimley?
On the day of completion you will not be required to go to the conveyancers office in Frimley. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s lawyers, and once they have received this, you should be able to pick up the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
I have decided to exercise my right to buy my property in Frimley off the council. I have a mortgage agreed with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I am selling my house. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, HSBC are being problematic. The Frimley solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My friend suggested that where I am buying in Frimley I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Frimley conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Frimley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Frimley Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Frimley.
I have recentlybecome aware that Arc property Solicitors have closed. They carried out my conveyancing in Frimley for a purchase of a leasehold flat 12 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest method to check if the property is in your name, you can make 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 Frimley conveyancing specialists.
I work for a busy estate agency in Frimley where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Frimley conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a studio flat in Frimley, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Frimley with a long lease are worth £176,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2105
With only 80 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.