Me and my fiance are buying a leasehold flat in Berkshire. My lawyer is not on the mortgage company approved list. Am I still permitted to continue with my Berkshire conveyancing solicitor even though they are not on the mortgage company panel?
One will need to use a conveyancer to deal with the legal work required when you require a loan to purchase your property. The conveyancer will conduct all the appropriate due diligence on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is in place. One may appoint a Berkshire property lawyer of your choosing. Nevertheless, if the property lawyer selected is not a member of the bank solicitor panel additional costs will be incurred as separate legal representation will be need by the mortgage company. Conveyancing panel applications may be submitted, so provided your conveyancer has not previously applied for membership they can do so.
Why do I have to pay up front for conveyancing in Berkshire?
If you are buying a property in Berkshire your lawyer will ask you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this should be needed immediately in advance of contracts are exchanged. The closing balance that is due should be transferred a couple of days prior to the completion date.
About to place an offer on a leasehold property in Berkshire. The estate agents tell me that it is normal for flats in Berkshire to have less than 75 years left on the lease. I am expecting a loan with Bank of Ireland. Will the property be mortgageable given that the lease has 69 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/4/2018 the requirements read as follows :
We are purchasing a terrace house in Berkshire. We would like to convert the garage to an office at the property.Will the conveyancing process include enquiries to see if these alterations were previously refused?
Your solicitor will review the registered title as conveyancing in Berkshire will sometimes reveal restrictions in the title documents which prohibit categories of changes or need the consent of a 3rd party. Some additions need local authority planning consent and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
We have agreed to purchase a house in Berkshire. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?
Given that you are obtaining a mortgage with Skipton your lawyer must follow the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Skipton. The CML Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Skipton where a lease fails to meet these specifications. The provisions relate to the installation of panels on properties countrywide and is not restricted to Berkshire.
After months of negotiation I have agreed a price on an apartment in Berkshire. My financial adviser recommended their conveyancers. I paid an upfront payment of £175. A couple of days later, the conveyancing practitioner called me to say that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Berkshire differ for newly converted properties?
Most buyers of new build property in Berkshire come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Berkshire usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Berkshire or who has acted in the same development.