I am in the process of selling my home in Reading and the estate agent has just called to advise that the purchasers are changing their law firm. The excuse is that the mortgage company will only engage with solicitors on their approved list. Why would a leading mortgage company only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Reading ?
Lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
What can a local search reveal concerning the property my wife and I buying in Reading?
Reading conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every Reading conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I have recentlyfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Reading for a purchase of a freehold house 10 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Reading conveyancing specialists.
I have just appointed agents to market my ground floor flat in Reading. Conveyancing is yet to be initiated, but I have recently received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you clear the invoice as usual given that all rents and service invoices should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Reading Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
Be sure to discover if there are any onerous prohibitions in the lease. For instance it is fairly common in Reading leases that pets are not allowed in in a block in Reading. If you like the apartmentin Reading but your dog can’t make the move with you then you will be faced difficult choice. Does the lease contain onerous restrictions? Many Reading leasehold flats will incur a service bill for the upkeep of the building set on behalf of the freeholder. Where you acquire the apartment you will have to meet this contribution, normally quarterly accross the year. This can differ from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent for you to pay annual, this is usually not a large figure, say approximately £25-£75 but you need to enquire it because on occasion it could be many hundreds of pounds.
Me and my wife have today had a bid accepted on our 1st house in Reading, and need to get solicitors appointed. We have utilised the various comparison based websites and the fee estimates are from all across the England and Wales. Is it critical to have a Reading solicitor local to our prospective new home? We are content to do all the communicating electronically, but I am thinking at some stage we will be required to attend the lawyer's office to sign papers?
On the whole there is no requirement to physically visit the office of your solicitor, they can send any relevant papers to you, which you can sign and return. Many home movers choose to use a locally based solicitor, but it's by no means a prerequisite for conveyancing in Reading.