I am purchasing property in Slough. My Conveyancer has never been on on the mortgage company conveyancing panel. Can I still use my Slough conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
You have a couple of options available to you here
- Complete the purchase with your existing Slough conveyancing practitioner but your lender will undoubtedly retain a property lawyer from their approved list. The net result is additional cost and likely frustration.
- Appoint a new lawyer to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Convince your property lawyer to do everything possible to get listed on the bank’s panel of solicitors
My nephew is buying a newly built flat in Slough with a home loan from Leeds Building Society. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My colleague advised me that where I am purchasing in Slough I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Slough conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Slough around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Slough Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Slough Education with maps and statistics, Local Amenities and other useful data about Slough.
I have been on the look out for a ground for flat up to £235,500 and found one close by in Slough I like with amenity areas and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Slough for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
We're first time buyers - agreed a price, but the selling agent advised that the vendor will only proceed if we appoint their preferred lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer used to conveyancing in Slough
We suspect that the owner is not behind this demand. If they require ‘a quick sale', taking such a hostile approach to a motivated buyer is going to damage their objectives. Try to communicate with the sellers directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you wish to move quickly (e)but you intend to appoint your preferred Slough conveyancing solicitors - as opposed tothe ones that will provide their estate agent a referral fee or hit his conveyancing thresholds pre-set by corporate headquarters.