I am buying a maisonette in Waterlooville. My lawyer is not on the mortgage company solicitor panel. Is it possible for me to retain my Waterlooville conveyancing solicitor notwithstanding that they are not on the lender panel?
One will need to use a property lawyer to deal with the formalities if you need a mortgage to purchase your home. They will conduct all the essential due diligence on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage documentation is in place. One may select a Waterlooville conveyancing practitioner of your choosing. However, where the solicitor appointed is not on the lender solicitor panel supplemental costs will be levied as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so if your solicitor has not historically applied for membership they should take the opportunity to apply.
What does my ID and proof of funds have anything to do with my conveyancing in Waterlooville? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you need to sign will no doubt reaffirm this. Your lender will also require certain documents to be viewed. Should you are unwilling to hand over ID verification documents, your lawyer can not take you on as a client.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a residence in Waterlooville? or I am told that there is an ancient law that could mean that owners of property residing in a parish church boundary may be liable to pay for maintenance towards the chancel within the church. Is this relevant for conveyancing in Waterlooville?
Unless a prior acquisition of the property completed after 12 October 2013 you may assume that lawyers delivering conveyancing in Waterlooville to continue to recommend a chancel search and or chancel repair liability insurance.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Waterlooville I like with amenity areas and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Waterlooville suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage that many years will be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My husband and I are new to the buying process - had an offer accepted, but the agent informed us that the owners will only go ahead if we use the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Waterlooville
It is improbable the vendors are behind this. Should the owner want ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Speak to the owners direct and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to use your preferred Waterlooville conveyancing solicitors - not the ones that will give their estate agent a commission or hit his conveyancing thresholds pre-set by HQ.
I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Waterlooville. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Waterlooville ?
Most houses in Waterlooville are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Waterlooville so you should seriously consider looking for a Waterlooville conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.