Unfortunately I am unable to travel far from Thatcham. I would like to know the reason why all Thatcham conveyancing practitioners aren't automatically on all lender panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or solicitor’s perspective, the the contrary view is that banks are increasingly anxious and feel it imperative to shield themselves from mortgage fraud. As a consequence of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
What is the first thing I need to know about purchase conveyancing in Thatcham?
You may not hear this from too many lawyers but conveyancing in Thatcham and elsewhere in England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there exists lots of room for friction between you and others involved in the ownership transfer. For instance, the seller, property agent and on occasion the lender. Choosing a law firm for your conveyancing in Thatcham an important selection as your conveyancer is your adviser, and is the ONLY party in the legal process whose interest is to protect your best interests and to protect you.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. We recommend that you should always trust your solicitor above all other players when it comes to the legal transfer of property.
My lawyer has informed me that defective lease insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Thatcham?
The appropriate level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Barnsley Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
I am currently in the process of buying my council flat in Thatcham. I have a mortgage offer with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
RBS have agreed my mortgage in principle, my bid on a apartment in Thatcham has been agreed to, what are the next steps?
The estate agent will need to be advised as to your lawyer's details (make sure the lawyers are on the bank’s panel). Call up RBS or the broker and finish off any outstanding paperwork. RBS will appoint a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to occur. Once carried out (assuming no problems) it takes about ten days to get a mortgage offer. RBS will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Thatcham.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who dealt with the conveyancing in Thatcham 10 years ago are no longer around. What do I do?
As long as you have a registered title the information relating to your proprietorship will be documented by HMLR under a Title Number. It is easy to conduct a search at the Land Registry, identify your house and secure up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Thatcham I like with a park and transport links nearby, however it's only got 61 years on the lease. I can't really find anything else in Thatcham suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.