Am I correct in assuming that the fact that my solicitor in Frimley is not identified on my bank's conveyancing panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Frimley conveyancing practice and enquire why they are no longer on the approved list for your lender.
Our son-in-law is about to exchange on a house that has just been built in Frimley with a mortgage from Principality. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Principality conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a ground floor flat in Frimley. Do I pick up the keys to the house on completion from my conveyancer? If so, I will use 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 electronically transfer the purchase money to the seller's solicitors, and once they have received this, you should be called to pick up the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
Does a directory service exist listing Yorkshire BS panel conveyancers in Frimley on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings open the public on the web. Where you are looking for a Frimley conveyancer on the Yorkshire BS please use our tool.
My husband and I have organised a further advance on our mortgage from Nottingham as we intend to carry out renovations to our house in Frimley. Are we obliged to select a high street Frimley solicitor on the Nottingham conveyancing panel to handle the legals?
Nottingham do not ordinarily require a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I am looking for a ground for flat up to £305k and identified one round the corner in Frimley I like with amenity areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Frimley in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Frimley. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Frimley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Frimley so you should seriously consider looking for a Frimley conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.
Leasehold Conveyancing in Frimley - Sample of Questions you should consider Prior to buying
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If a Frimley lease has fewer than 80 years it will impact the value of the flat. Check with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will probably require a lease extension at some point and it is worth finding out what this will be. For most Frimleylease extensions you will be be obliged to have been the owner of the premises for a couple of years before you are eligible to carry out a lease extension. Is anyone aware of any major works in the near future that will increase the maintenance charges? What prohibitions are contained in the Frimley Lease?
My husband and I have AIP from Nationwide Building Society who said that they will loan up to £218k. When do I need to instruct a practitioner for conveyancing? Frimley is where we are buying.
It would be wise to instruct a conveyancer now so that the property lawyer can open the ledger so they can do the ID checks etc. If and when you wish them to commence work you will be asked for a payment on account normally approximately £175. That would normally be after you have the mortgage offer and valuation back, nevertheless if you want to expedite matters you can start sooner even though you may be risking some money.