Is the fact that my conveyancer in Reading is not listed on my mortgage company's solicitor panel that there is a problem with the quality of his work?
It would be unwise 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. Where you are concerned you should simply call the Reading conveyancing firm and enquire why they are no longer on the approved list for your bank.
I have given 8 weeks notice to my existing landlord and must vacate my let out apartment in Reading by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in 5 weeks as don't want to have to find short term accommodation?
The normal practice is not to give notice for your tenancy unless your lawyer suggests that you should. If you have not already done so, notify to your conveyancer and ask them to they cajole the sellers lawyers, try to an acceptable time-line that all parties will look towards
Various internet forums that I have frequented warn that are the number one cause of obstruction in Reading house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Reading.
I am purchasing my first flat in Reading benefiting from help to buy. The sellers would not reduce the price so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my conveyancer about this deal as it could impact my loan with HSBC Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Reading is where the house is located. Can you shed any light on this issue?
Flying freeholds in Reading are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Reading you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Reading may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In searching the web for the term conveyancing in Reading it shows results of numerous solicitorsin the vicinity. How do I determine which is the suitable solicitor for my move?
The preferential method of finding the right conveyancer is through a trusted testimonial, so seek the guidance of friends and relatives who have bought a property in Reading or the local estate agent or financial adviser. Costs for conveyancing in Reading vary, so it's a good idea to request at least three fee calculations from varying types of companies. Dont forget to clarify that the fees are fixed.