Me and my fiance are buying a 3 bedroom flat in Tadley with a mortgage. We have a Tadley solicitor, however the mortgage company advise he's not on their "panel". It appears that we have little option but to use one of the mortgage company panel conveyancing practices or continue with our Tadley conveyancer as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Tadley conveyancing lawyer to apply to be on the conveyancing panel.
I own a freehold house in Tadley but still pay rent, why is this and what is this?
It’s unusual for properties in Tadley and has limited impact for conveyancing in Tadley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Various web forums that I have visited warn that are a common cause of obstruction in Tadley house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Tadley.
Are there restrictive covenants that are commonly identified during conveyancing in Tadley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Tadley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the guidance of my in-laws I had a survey completed on a house in Tadley in advance of instructing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some banks may not grant a loan on such a property.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tadley. Conveyancing will be smoother if you use a solicitor in Tadley especially if they are accustomed to such properties in Tadley.
What advice can you give us when it comes to finding a Tadley conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Tadley conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Tadley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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Can they put you in touch with clients in Tadley who can give a testimonial? What are the costs for lease extension work?
Tadley Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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How many of the leaseholders are in arrears for their service charge payments? Be sure to investigate if the the lease includes any unreasonable restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Tadley. If you love the apartmentin Tadley however your dog can’t move with you then you will be faced hard determination. On the whole the outlay for major works are not built into the maintenance charges, albeit that a few managing agents in Tadley require leasehold owners to pay into a sinking fund and this is used to offset against larger works.