We previously chose conveyancers based in Slough on the Yorkshire BS solicitor approved list. They have just billed me a supplemental charge for handling the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your solicitor can charge a fee for this. The fee is not set by Yorkshire BS but by your Slough lawyer. Plenty of firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee and others do not.
I am currently in the process of buying my council flat in Slough. I have a mortgage offer with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I currently have a mortgage with Principality for my property in Slough. Conveyancing was finalised months ago. Should I wish 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 Principality?
Your original mortgage agreement with Principality will provide that you need their approval in advance of renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies 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 Principality directly. You need not do this via a Principality conveyancing panel firm.
I completed on my flat on 8 November and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Slough advises it will be dealt with in less than a month. Are transfers in Slough particularly slow to register?
As far as conveyancing in Slough is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can adjust according to who lodges the application, whether there are errors and if the Land registry communicate with any third persons or bodies. At present in the region of 80% of submission are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Historically registration occurs once the buyer is living at the premises thus an expedited registration is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Slough differ for newly converted properties?
Most buyers of new build or newly converted property in Slough come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Slough tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Slough or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Slough is where the house is located. Can you offer any advice?
Flying freeholds in Slough are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Slough you would need to get your solicitor to go through the deeds very carefully. 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.
What does commercial conveyancing in Slough cover?
Commercial conveyancing in Slough covers a broad array of services, provided by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Slough. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Slough ?
The majority of houses in Slough are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Slough in which case you should be shopping around for a Slough conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.
I inherited a basement flat in Slough, conveyancing having been completed May 2009. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Slough with an extended lease are worth £197,000. The ground rent is £55 yearly. The lease ends on 21st October 2081
With 56 years left to run the likely cost is going to range between £29,500 and £34,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.