Me and my fiance are buying a 3 bedroom apartment in Maidenhead with a mortgage. We wish to retain our Maidenhead solicitor, however the lender says she’s not on their "panel". It appears that we have little choice but to instruct one of the lender panel conveyancing practices or continue with our Maidenhead conveyancer and pay for one of their panel lawyers to represent them. We feel that this is inequitable; are we not able to require that the bank use our Maidenhead solicitor ?
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 Maidenhead conveyancing lawyer to apply to be on the conveyancing panel.
It is 10 years ago since I purchased my property in Maidenhead. Conveyancing solicitors have now been retained on the sale but I can't track down my title deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with your lender or they may be in the possession of the lawyers who acted in your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in Maidenhead relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
Is it the case that all Maidenhead solicitors on the Clydesdale conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Clydesdale conveyancing panel they would need to be governed by the SRA. Some lenders do allow licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
My partner and I have arranged a further advance on our mortgage from Bank of Ireland as we intend to conduct renovations to our house in Maidenhead. Do we need to select a nearby Maidenhead solicitor on the Bank of Ireland conveyancing panel to deal with the legals?
Bank of Ireland don't usually instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland panel.
My partner and I are in the throws of viewing houses in Maidenhead and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with Leeds Building Society.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are seeking a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
I require fast conveyancing in Maidenhead as I am under pressure to exchange contracts inside 4 weeks. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to have searches carried out although no conveyancer would suggest that you don't. With lots of history conveyancing in Maidenhead the following are instances of issues that can appear and therefore impact the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I'm purchasing a new build house in Maidenhead with a loan from Accord Mortgages Ltd. The developers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my lawyer about this side-deal as it may affect my mortgage with Accord Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Maidenhead I like with amenity areas and station nearby, the downside is that it only has 51 years on the lease. There is not much else in Maidenhead in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.