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Find a Reading Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Reading? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Reading home move at risk of delay or failure.

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Recently asked questions about conveyancing in Reading

Our conveyancer has uncovered a a problem with the lease for the flat we are buying in Reading. The other side have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.

Why is leasehold purchase conveyancing in Reading is more expensive?

Reading leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

I am purchasing a end of terrace house in Reading. The intention is to carry out a loft conversion at the property.Will legal due diligence on the property include checks to determine if these alterations were previously refused?

Your property lawyer should check the registered title as conveyancing in Reading can sometimes reveal restrictions in the title deeds which prevent certain alterations or necessitated the consent of a 3rd party. Some additions require local authority planning consent and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.

Please help - my lawyer advises that lack of building regulations insurance is necessary on my purchase. What is the level of cover for Reading conveyancing?

The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.

When it comes to lenders such as Co-operative, do Reading solicitors incur a fee to be on the conveyancing panel?

We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.

It has been four months since my purchase conveyancing in Reading completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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.

Is it best to go with a Reading conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can conduct the legal formalities however they are based a couple of hundredkilometers drive away.

The benefit of a high street Reading conveyancing practice is that you can visit the firm to execute paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and in the main were impressed that must outweigh using an unfamiliar Reading conveyancing lawyer solely due to them being local.

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