I am in the process of selling my flat in Tilehurst and the estate agent has just text me to say that the buyers are appointing a new conveyancer. The excuse is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a leading lender only deal with specific solicitors rather the firm that they want to choose to handle their conveyancing in Tilehurst ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise 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 unlikely to have any impact on this.
I can see plenty of here about conveyancing in Tilehurst but can you isolate your top tip for choosing the right conveyancer in Tilehurst
We would encourage you not to go for the lowest Tilehurst conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Tilehurst bank branch on numerous occasions and was informed it wasn't an issue and they would lend. My Tilehurst conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. I have no idea who is right.
The solicitor must comply with the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Kent Reliance are being a right pain. The Tilehurst solicitor who is on the Kent Reliance conveyancing panel is saying indemnity insurance will be fine but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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.
I moved into my flat on 11 October and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Tilehurst said it should be recorded in less than a month. Are transfers in Tilehurst particularly slow to register?
As far as conveyancing in Tilehurst is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry have to notify any 3rd parties. As of today approximately 80% of submission are fully dealt with within 12 days but some can be subject to longer hold-ups. Registration is effected after the purchaser has moved in to the property thus 'speed' is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
Due to the encouragement of my in-laws I had a survey completed on a property in Tilehurst prior to retaining lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders may not grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Tilehurst. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tilehurst to see if the conveyancing will be more expensive.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Tilehurst. I have stumble across a site which appears to be the ideal offering If there is a chance to get all this stuff done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a reputable estate agent office in Tilehurst where we see a few flat sales jeopardised due to short leases. I have been given inconsistent advice from local Tilehurst conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
Tilehurst Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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It is important to be aware whether changing the roof or some other major work is coming up to be shared between the leasehold owners and may well dramatically impact the level of the maintenance fees or result in a one off invoice. Are there any major works in the near future that will add a premium to the maintenance costs? It would be wise to find out as much as you can regarding the managing agents as they can either make living at the property much easier or much more difficult. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the tidiness of the common parts. Ask other people what they think of them. On a final note, be sure you understand the dates that the service charges are due to the managing agents and specifically what it includes.