Me and my partner are buying a 3 bedroom apartment in Tadley with a mortgage. We like our Tadley conveyancer, however the bank advise he's not on their "panel". It appears that we have no option but to appoint one of the bank panel firms or keep our Tadley conveyancing practitioner and pay for one of their panel ones to act for them. We feel that this is unjust; are we not able to require that the lender use our Tadley conveyancing practitioner ?
No, not really. The mortgage offered to you 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. A further alternative is for your Tadley conveyancing solicitor to apply to be on the conveyancing panel.
I purchased a freehold premises in Tadley but nevertheless invoiced for rent, why is this and what is this?
It is rare 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 date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My mortgage company has recommended solicitors on their panel based in Tadley but I would rather choose a conveyancing lawyer in Tadley local to me. Can you assist?
Far from all Tadley conveyancing practitioners are listed all lender’s conveyancing panel. Use the above search tool to identify a Tadley conveyancing solicitor on the on the mortgage company panel.
A colleague advised me that where I am purchasing in Tadley I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Tadley conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Tadley around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Tadley Education with maps and statistics, Local Amenities and other useful information regarding Tadley.
I am purchasing a new build house in Tadley with a mortgage from Yorkshire Building Society. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my solicitor about the deal as it could adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What advice can you give us when it comes to choosing a Tadley conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Tadley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Tadley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
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If they are not ALEP accredited then what is the reason?
Tadley Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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How much is the annual maintenance fee and ground rent? The best form of lease arrangement is a share of the freehold. In this situation the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is usually retained where it is larger than a house conversion, the managing agent retained by the leaseholders. Please note if it is no more than 80 years it will have adverse implications on the marketability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Tadleylease extensions you would need to own the property for two years before you are eligible to carry out a lease extension.