Why do I have to pay up front when it comes to conveyancing in Reading?
If you are buying a property in Reading your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. When the down payment is payable against the sale price then this will be needed immediately in advance of contracts are exchanged. The closing balance that is due should be sent to your lawyer shortly before completion.
My flat in Reading is up for sale and I have a purchaser. Does my lawyer need to be required to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
My partner and I are downsizing from our home in Reading and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a national conveyancing outfit as opposed to a conveyancing solicitor in Reading. We have lived in Reading for many years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am buying my first flat in Reading with a loan from Skipton Building Society. The builders would not budge the amount so I negotiated 6k of extras instead. The house builders rep told me not disclose to my conveyancer about the side-deal as it would jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Our bank agreed in principle to issue us a mortgage. We appointed a long established conveyancer in Reading last week. A couple of hours ago, our mortgage adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we did not have a clue that the mortgage company had some control over our choice Is this legal?
You are permitted to choose any conveyancing solicitor you wish to instruct for your conveyancing in Reading however if they are not on the your lender's approved list you would have to fork out an extra fee so the mortgage company can retain their own conveyancer too. sometimes it is conceivable that your solicitor may apply to get included on to the bank list of approved firms. You can use internet search facilities including lenderpanel.com to find a conveyancing solcitor in Reading on the bank panel. You can go into your local mortgage company branch in Reading. They will know some good conveyancing solicitors in Reading on the approved list.