My wife and I are soon to exchange on the purchase of a house in Reading but as a result of wreckage from the recent storms I have was able negotiate compensation from the vendor of three thousand pounds by way of a deduction in the price. This was going to be addressed as part of amending the contract but Leeds Building Society are not allowing this. Should they have been approached?
Any conveyancing practitioner being on the Leeds Building Society approved list is obliged to inform Leeds Building Society of any variations to the sale price. If you prohibit your conveyancer to report the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new lawyer for your conveyancing in Reading.
My Solicitor in Reading is not on the Aldermore Solicitor Panel. Is it possible for me to use my family solicitor even though they are excluded from the Aldermore list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your preferred Reading lawyers but Aldermore will need to use a conveyancer on their list of acceptable firms. This will result in additional total conveyancing fees and result in delays.
- Choose a new lawyer to to deal with the purchase, obviously checking they are Convince your solicitor to do everything within their powers to join the Aldermore conveyancing panel
Are there restrictive covenants that are commonly picked up during conveyancing in Reading?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Reading. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Reading I like with a park and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Reading suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Is it possible to change firm as I have to find one who is on the Bank of Scotland conveyancing list. I hired a high street conveyancing solicitor in Reading round the corner but she is not accepted by Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Reading on the Bank of Scotland panel. Please note that the conveyancers that we work with do not pay us a referral fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Reading. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Reading.
My wife and I have instructed a Reading conveyancing solicitor for our home move (FTB’s) and have noticed in the Ts and Cs that they are not governed by the Financial Conduct Authority. Need I be concerned or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are regulated by the SRA, who have specific stipulations in place on monies held by them.