Recently been in touch with my conveyancing lawyer in Wokingham who completed the legal work 18 months ago and wanted a conveyancing quote based on an identical type of home move (a leasehold property and a freehold property) of almost identical values with a home loan from Alliance & Leicester . It looks as though am now being charged double. Stick with what I know or should I seek out a cheaper online property lawyer?
The charges appear a tad high. If you you were to look around you could get the conveyancing a bit cheaper by perhaps a hundred pounds. On the other hand, if you were satisfied with the legal work the firm provided you couldcome to rue choosing an an unknown conveyancer. Remember to enquire that the conveyancer can also act for Alliance & Leicester . You can employ our search tool to get a quote a Wokingham conveyancing firm on the Alliance & Leicester conveyancing panel, which can often include conveyancing solicitors in Wokingham.
My Wokingham conveyancer has identified a difference when comparing the information in the home valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We are purchasing a apartment in Wokingham. It might be a silly question but how we can trust a solicitor? On completion day we will need to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Wokingham. The Wokingham property was put into my name in November. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most banks would take a practical view as this clause is principally there to capture subsales or the flipping of properties.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Wokingham solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Wokingham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will our conveyancer be raising questions regarding flooding as part of the conveyancing in Wokingham.
Flooding is a growing risk for solicitors dealing with homes in Wokingham. Plenty of people will purchase a house in Wokingham, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a number of searches that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Wokingham. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to find out whether the property has ever been flooded. In the event that the residence has been flooded in past which is not notified by the vendor, then a buyer could bring a claim for damages as a result of such an misleading response. A purchaser’s conveyancers may also order an enviro search. This will indicate if there is any known flood risk. If so, additional inquiries should be carried out.
My wife and I have a 4 bedroom Georgian property in Wokingham. Conveyancing solicitor represented me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wokingham and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who completed the work.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Wokingham is where the house is located. Is there any guidance you can impart?
Flying freeholds in Wokingham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wokingham you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wokingham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.