We're in Reading, First time buyers buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial property in Reading?
Its becoming the norm that commercial conveyancing solicitors in Reading will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Reading. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Reading.
For every commercial conveyancing transaction in Reading it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Reading commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Reading.
The deeds to my house are lost. The lawyers who did the conveyancing in Reading 5 years ago have long since closed. What do I do?
Assuming you have a registered title the information relating to your proprietorship will be recorded by HMLR under a Title Number. It is easy to perform a search at the Land Registry, locate your property and obtain current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
Due to the advice of my in-laws I had a survey completed on a property in Reading ahead of retaining lawyers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some banks tend not grant a loan on this type of premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Reading. Conveyancing will be smoother if you use a solicitor in Reading especially if they are accustomed to such properties in Reading.
My wife and I purchased a leasehold flat in Reading. Conveyancing and TSB mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Reading who previously acted has long since retired. Any advice?
First contact HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Reading conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a leasehold flat in Reading, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Reading with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2082
You have 56 years left to run the likely cost is going to range between £29,500 and £34,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
To what extent are Reading conveyancing solicitors duty bound by the Law Society to issue clear conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Reading or further afield.