My wife and I are acquiring residence in Bracknell. My lawyer has never been on on the bank solicitor panel. Can I still use my Bracknell conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
One will need to use a property lawyer to complete the legal work required when you take out a loan to buy your property. The lawyer will carry out all the essential investigations on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage documentation is dealt with. One could instruct a Bracknell conveyancing practitioner of your choice. However, where the solicitor appointed is not on the bank approved list supplemental fees will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so provided your lawyer has not in the past sought membership they can do so.
I own a freehold residence in Bracknell yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Bracknell and has limited impact for conveyancing in Bracknell but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Can I be sure that the Bracknell conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Bracknell obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
I am selling my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being difficult. The Bracknell solicitor who is on the TSB conveyancing panel is recommending indemnity insurance as a solution but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bracknell solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays 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 Bracknell 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.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a house in Bracknell?
Unless a prior purchase of the premises completed post 12 October 2013 you can take it that solicitors conducting conveyancing in Bracknell to continue to recommend a chancel search and or insurance against a claim.
What are the frequently found defects that you encounter in leases for Bracknell properties?
Leasehold conveyancing in Bracknell is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
Repairing obligations to or maintain elements of the property
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Bracknell Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
Does the lease have onerous restrictions? How much is the yearly service fee and ground rent? Is anyone aware of any major works in the planning that will likely add a premium to the maintenance costs?