Am I correct in assuming that the fact that my conveyancer in Berkshire is not on my bank's conveyancing panel that there is a problem with the standard of her conveyancing?
That would most likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Berkshire conveyancing practice and enquire why they are no longer on the approved list for your lender.
We are buying a property and the lawyer has identified Chancel Repair for which the house may be obligated to pay because it falls into the area of such a church. He has mentioned insurance. Is this strictly necessary for conveyancing in Berkshire
Unless a prior purchase of the property took place after 12 October 2013 you may expect lawyers conducting conveyancing in Berkshire to continue to advocate a chancel search and or chancel repair liability policy.
four months have elapsed following my purchase conveyancing in Berkshire took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Berkshire I like with open areas and railway links nearby, the downside is that it only has 49 years on the lease. There is not much else in Berkshire for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
When it comes to my conveyancing in Berkshire should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Berkshire conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.