My husband and I are planning to purchase a 2 bedroom apartment in Windsor with a mortgage. We have a Windsor solicitor, but the mortgage company says she’s not on their "panel". It seems we have no option but to use one of the lender panel conveyancing practices or retain our Windsor conveyancing practitioner as well as pay for one of their panel firms to act for them. We consider that this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer 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 Windsor conveyancing lawyer to apply to be on the conveyancing panel.
Having sold my house in Windsor last May yet the purchaser is texting me to moan that his lawyer needs to hear from mine. What are the post completion sale formalities following completion?
Post completion of your disposal your lawyer is committed to send the transfer documentation and all additional paperwork to the buyer’s lawyers. If applicable, your conveyancer should also evidence that the home loan has been discharged to the purchasers solicitors. There are no post completion tasks just for conveyancing in Windsor.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Windsor so that I can pop in to their offices when needed.
Whereas this was necessary ten years ago, the vast majority lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID documents and there are still distinct advantages to instructing a locally based ayer, in your case a conveyancing solicitor in Windsor.
My partner and I are downsizing from our house in Windsor and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the buyers are using a web based conveyancing practice rather than a conveyancing solicitor in Windsor. Having lived in Windsor for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Windsor I like with a park and station nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Windsor in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Windsor. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Windsor are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Windsor so you should seriously consider shopping around for a Windsor conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.
I own a studio flat in Windsor, conveyancing formalities finalised May 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Windsor with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2087
With just 61 years unexpired the likely cost is going to span between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.