It has come to my attention via my IFA that my Bracknell the law firm I have appointed is not on the mortgage company Conveyancing panel. What can I do to be sure if this is correct?
The first thing you need to do is to call your Bracknell lawyer directly. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
Are the Bracknell conveyancing solicitors identified as being on the HSBC conveyancing panel, together with their details provided by HSBC?
Bracknell conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Are the BSA intent on creating a search tool with a view to to identify law firms on the Darlington Building Society conveyancing panel for example in Bracknell?
Lexsure has not been advised of any plans on the part of the BSA to promote such a register.
3 months have gone by since my purchase conveyancing in Bracknell took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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.
What are the common problems that you encounter in leases for Bracknell properties?
There is nothing unique about leasehold conveyancing in Bracknell. Most leases are individual and drafting errors can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain parts of the property Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I invested in buying a ground floor flat in Bracknell, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bracknell with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2093
You have 71 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.