I am selling my flat in Sonning Common and the EA has just telephoned to warn that the buyers are swapping property lawyer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. Why would a big named lender only deal with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Sonning Common ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
It is 10 years ago since I bought my house in Sonning Common. Conveyancing lawyers have recently been retained on the sale but I am unable to find the title documents. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be retained by the mortgage company or they could be in the possession of the conveyancers who acted in your purchase. Secondly in most cases the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Sonning Common involves registered property but in the unlikely event that your home is unregistered it is more problematic but is resolvable.
What can a local search inform me concerning the property my wife and I buying in Sonning Common?
Sonning Common conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search plays a central part in many a Sonning Common conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I decided to have a survey done on a house in Sonning Common ahead of retaining lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend refuse to give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sonning Common. Conveyancing will be smoother if you use a solicitor in Sonning Common especially if they are acquainted with such properties in Sonning Common.
In my capacity as executor for the will of my uncle I am selling a property in Cardiff but live in Sonning Common. My conveyancer (approximately 235 kilometers from mehas requested that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Sonning Common who can witness this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Sonning Common based
All being well we will complete our sale of a £200,000 garden flat in Sonning Common next week. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Sonning Common?
Sonning Common conveyancing on leasehold flats normally necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are entitled to charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to sell the property.
Leasehold Conveyancing in Sonning Common - A selection of Queries before Purchasing
-
Where a Sonning Common lease has less than 80 years it will affect the salability of the flat. Check with your bank that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will be required to have owned the residence for two years before you are entitled to exercise a lease extension. You will want to discover as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the communal areas. Enquire of other tenants what they think of them. On a final note, investigate as to the dates that you are obliged pay the service charge to the appropriate party and precisely what you get for your money. Who manages the building?