My husband and I are purchasing a 2 bedroom apartment in Reigate with a mortgage. We would like to retain our Reigate lawyer, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Reigate property lawyer as well as pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Reigate conveyancing lawyer to apply to be on the conveyancing panel.
It is a dozen years since I purchased my property in Reigate. Conveyancing lawyers have now been instructed on the sale but I am unable to track down the title deeds. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be kept by your lender or they could stored with the solicitor who handled the purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Nearly all conveyancing in Reigate relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Reigate. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Reigate
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the encouragement of my in-laws I had a survey completed on a house in Reigate before retaining lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Reigate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Reigate to see if the conveyancing will be more expensive.
I am using a search engine for the words cheap conveyancing in Reigate it brings up numerous solicitorslocally. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The ideal way of seeking a suitable conveyancer is via trusted referral, so seek the counsel of friends and those you trust who have bought a property in Reigate or the local estate agent or mortgage broker. Costs for conveyancing in Reigate vary, so it's advisable to request at least four estimates from varying types of conveyancers. Be sure to obtain confirmation that the charges are assured not to rise.
Completion is due on our sale of a £400,000 maisonette in Reigate in six days. The landlords agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Reigate?
For the majority of leasehold sales in Reigate conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Reigate
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Reigate - A selection of Queries Prior to Purchasing
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You should be aware if it is fewer than 80 years it will impact the salability of the apartment. Check with your mortgage company that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension at some point and you need to have some idea of what this will be. For most Reigatelease extensions you would be be obliged to have been the owner of the premises for a couple of years before you are entitled to extend the lease. For most Reigate leaseholds the outlay for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Reigate ask tenants to pay into a reserve fund created for the specific purpose of establishing a fund for larger repairs or maintenance.