I am nearing exchange of contracts for my ground floor flat in Calcot and Tilehurst and the estate agent has just e-mailed to warn that the buyers are appointing a new conveyancer. The reason given is that the lender will only work with property lawyers on their approved list. Why would a major lender only work with specific lawyers rather the firm that they want to select for their conveyancing in Calcot and Tilehurst ?
UK lenders have always had panels of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
I am planning to move house in February. Does my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you suggest a removal company in Calcot and Tilehurst. Conveyancing solicitor was organised prior to coming across this website.
On the day of completion you will need to pick up the house keys from the selling agent but this should only happen after the previous owners solicitors inform the agent that the monies to complete are in and the keys can be collected. You should tell the removal company that you are ready to move in. We do not recommend a particular removal company but can help you locate a conveyancing in Calcot and Tilehurst or a legal practice with expertise in conveyancing in Calcot and Tilehurst.
We previously selected solicitors based in Calcot and Tilehurst on the Kent Reliance solicitor approved list. They have just invoiced me an additional sum for dealing with the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner is entitled to levy a fee for this. The fee is not set by Kent Reliance but by your Calcot and Tilehurst property lawyer. Numerous firms on the Kent Reliance panel will charge an ‘acting for lender’ fee and others do not.
How can we tell if a Calcot and Tilehurst conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Calcot and Tilehurst getting 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 conducting your conveyancing.
How does conveyancing in Calcot and Tilehurst differ for newly converted properties?
Most buyers of new build property in Calcot and Tilehurst contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Calcot and Tilehurst typically buy 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 Calcot and Tilehurst or who has acted in the same development.
Estate agents have just been given the go-ahead to market my basement flat in Calcot and Tilehurst. Conveyancing has not commenced, but I have recently received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual as all ground rent and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Calcot and Tilehurst - Examples of Queries before buying
How long is the Lease? Make sure you discover if the the lease includes any unreasonable restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Calcot and Tilehurst. If you like the flatin Calcot and Tilehurst yet your dog is not allowed to make the move with you then you have a very difficult choice. How much is the maintenance charge and ground rent on the property?
When it comes to my conveyancing in Calcot and Tilehurst should I be charged 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 Calcot and Tilehurst conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.