lenderpanel

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 transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Reading conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Reading

When can the exchange of contracts take place for domestic conveyancing in Reading and do I need to attend the solicitors office?

Where you are round the corner to one of the conveyancing solicitors in Reading you are invited in to sign documents. That being said, the firms we recommend supply a nationwide conveyancing service and give as equally detailed and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not when everything is set in stone. A signed contract simply enables the conveyancer to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Reading)to be in the office at the appropriate time.

I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Reading. My lender is Virgin

Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/6/2021, the requirements read as follows :

We have agreed to purchase a house in Reading. An unusual aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As your lender is Bank of Ireland your lawyer must comply with the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to Bank of Ireland where a lease fails to comply with these provisions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Reading.

I am expecting a DIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Reading solicitors on the Coventry BS conveyancing panel, or is it better to go independently?

You will need to appoint Reading solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.

I have a mortgage with Clydesdale for my property in Reading. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?

Clydesdale must be informed of your intention before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel lawyer.

Should commercial conveyancing searches disclose impending roadworks that could affect a commercial estate in Reading?

Many commercial conveyancing solicitors in Reading will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Reading. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Reading.

For each commercial conveyancing transaction in Reading it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Reading commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Reading.

My partner and I may need to sub-let our Reading 1st floor flat temporarily due to a career opportunity. We instructed a Reading conveyancing practice in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease dictates relations between the landlord and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Reading do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I bought a split level flat in Reading, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Reading with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2094

With 73 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other 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 placing reliance on this information without first getting professional advice.

Last updated

Find out more about how flying freehold can affect your the value of a property.