When it comes to mortgage companies such as Santander, do Faringdon solicitors incur a fee to be on the list of approved solicitors?
We are not aware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We have agreed to purchase a house in Faringdon. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
Given that your lender is Principality your lawyer must follow the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Principality. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Principality where a lease does not meet these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Faringdon.
I can not work out if my lender requires a lease extension. I have telephoned my Faringdon bank branch on various occasions and was reassured it wasn't an issue and they will lend. My Faringdon conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Your conveyancing practitioner has to comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
2 months have elapsed since my purchase conveyancing in Faringdon took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 property 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.
Just had an offer accepted on a new build flat in Faringdon. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Faringdon
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
Due to the input of my in-laws I had a survey completed on a property in Faringdon in advance of instructing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks may not issue a loan on such a home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Faringdon. Conveyancing may be slightly more expensive based on your lender's requirements.
I happen to be an executor of my recently deceased mum’s Will, with a bungalow in Faringdon which will be marketed. The house has never been registered at the Land Registry and I'm advised that many purchasers will insist that it is in place before they will move forward. What's the procedure for this?
In the circumstances that you have set out it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.