My husband and I are buying a 3 bedroom apartment in Datchet with a mortgage. We would like to retain our Datchet conveyancer, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Datchet conveyancing practitioner and pay for one of their panel ones to represent them. We regard this is unjust; are we not able to demand that the bank use our Datchet lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Datchet conveyancing solicitor to apply to be on the conveyancing panel.
We previously chose solicitors located in Datchet on the Bank of Ireland solicitor approved list. They have just invoiced me a further sum for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. The charge is not set by Bank of Ireland but by your Datchet solicitor. Some firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee and others do not.
I have a mortgage with Principality for my property in Datchet. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel solicitor.
My sealed bid on a property in Datchet has been accepted, the vendors do nevertheless have a dependent purchase. The owners have put an offer on somewhere, but it’s not yet tied up, and are looking at other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Datchet. What do I do now? When should I get the mortgage application with HSBC started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then valuation, Datchet conveyancing search charges, etc). First, you must ensure that your conveyancer is on the HSBC approved list. Regarding the subsequent steps this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market some buyers will apply for the mortgage with HSBC and arrange for the valuation and only if it was satisfactory would they request their conveyancer to press on with searches.
I have been recommended by a number of property agents in Datchet to select a property lawyer on your site. What’s the financial incentive for Estate Agents to recommend your lawyers rather than alternative conveyancing organisations?
We don’t make any referral fee for pointing buyers and sellers our way. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
What makes a Datchet lease defective?
There is nothing unique about leasehold conveyancing in Datchet. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Royal Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
Datchet Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing
It would be sensible to find out if the the lease includes any adverse restrictions in the lease. For example it is reasonably common in Datchet leases that pets are not permitted in certain buildings in Datchet. If you love the apartmentin Datchet but your dog is not allowed to live with you then you will be presented with a hard determination. What is the name of the managing agents? What is the maintenance charge and ground rent on the apartment?
There are plenty of houses in Datchet on unadopted lanes. My partner and I are buying such a house. What are the pros and cons of purchasing a property on a private road?
Datchet conveyancing lawyers will be well versed in dealing homeson unadopted roads. The property lawyer will review the Land Registry data to find any rights or liabilities. In many cases there is a management company (wholly owned by residents) that proprietors make annual payments to maintain the road. If there is one, the road should be maintained and look better than publicly owned.