Why do I have to pay up front for conveyancing in Newbury?
If you are buying a property in Newbury your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the total price then this will be asked for immediately ahead of exchange of contracts. The closing balance that is needed will be payable shortly before completion.
we are a couple who are hoping to buy a newbuild apartment in Newbury with a loan from Yorkshire Building Society.We have a Newbury conveyancing lawyer but Yorkshire Building Society informed us her practice is not listed on their "panel". It seems we are left with little choice but to instruct a Yorkshire Building Society panel firm or keep our local solicitor and pay for a Yorkshire Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you is subject to its terms and conditions, a common one being that lawyers will be on the Yorkshire Building Society approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Yorkshire Building Society
five months have gone by since my purchase conveyancing in Newbury completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £305k and found one near me in Newbury I like with amenity areas and transport links nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Newbury in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Am I better off to instruct a Newbury conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can carry out the legal work however his firm is located over three hundred kilometers drive away.
The benefit of a local Newbury conveyancing practice is that you can pop in to sign paperwork, hand in your ID and pester them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were impressed that should trump using an unknown Newbury conveyancing solicitor just because they are based in the area.
Should one as executor remove a departed person's name from the title register for a house in Newbury?
Where a Newbury property is co-owned and one of the proprietors passes away, the name will not immediately be removed from the title deeds. You are not required to amend the title as when it comes to a sale your conveyancer would just need to evidence why the co owner is not a party to the conveyance, ordinarily this is in the form of a grant of probate.
With a view to making things more straight forward for the sale of the property you can apply to have the deceased party removed from the title by applying to HM Land Registry with proof of the death. There is no charge from the Registry for this service.