After what seems like an age a loan agreement from Santander for the remortgage of my 3 room apartment is due by the end of next week. Are you able to recommend a cheap conveyancing practitioner in Slough?
This site is not designed to assist those in their quest for the cheapest conveyancing in Slough. Our aim is to provide value for money conveyancing but we do not work with the cheapest lawyers. Avoid the trap of appointing organisations offering low cost conveyancing in Slough. The optimum outcome, in going for cheap conveyancing, you will earn what you pay for and at worst you will end up invoiced for additional fees and still not get the service you were looking for.
Some advice if I may. My Slough lawyer is assuring me that he has toconduct Slough conveyancing searches becausethe firm are on the Nat Westapproved lawyer panel. Is my conveyancer correct?
You have limited options available to you. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Slough conveyancing searches.
The Slough conveyancing solicitors that just started acting on my house acquisition in Slough have without warning closed. I chose them because I needed a solicitor on the Yorkshire BS conveyancing panel and my family Slough lawyer was not. I issued them a cheque for two hundred pounds in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
When it comes to lenders such as Principality, do Slough conveyancers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
The mortgage over my property is with Coventry BS for my property in Slough. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval prior to renting your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel firm.
I am due to exchange contracts on my house. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being pedantic. The Slough solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Slough is where the house is located. Can you shed any light on this issue?
Flying freeholds in Slough are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Slough you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Slough may determine 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 premises.
I work for a reputable estate agent office in Slough where we have experienced a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Slough conveyancing solicitors. Could you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a 1st floor flat in Slough, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Slough with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2105
With just 80 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.