Do I find a Licenced Conveyancer or Solicitor for conveyancing in Wantage?

Two types of professional can conduct conveyancing in Wantage namely CLC regulated conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the sale or acquisition of property. They are both required to handle Wantage conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be professionally carried out and that all necessary procedures should be correctly followed.

is it true that all Wantage solicitors on the Barclays conveyancing panel are overseen by the Solicitors Regulatory Authority?

As solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel and in that case the practice would be governed by the CLC.

I was told four weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Wantage is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.

I am buying a new build flat in Wantage. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wantage

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.

I am looking for a ground for flat up to £235,500 and found one close by in Wantage I like with a park and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Wantage suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a mortgage that many years may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

I am using a search engine for the words cheap conveyancing in Wantage it shows results of numerous solicitorsin the area. How do I determine which is the suitable conveyancer for the sale of my house?

The best way of finding a suitable conveyancer is via personal referral, so enquire of colleagues and those you trust who have purchased a property in Wantage or the reputable estate agent or financial adviser. Fees for conveyancing in Wantage vary, so it's advisable to obtain at least three costs illustrations from varying types of conveyancers. Dont forget to clarify that the charges are guaranteed not to to be inflated.

I work for a reputable estate agent office in Wantage where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Wantage conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Wantage Leasehold Conveyancing - A selection of Queries before Purchasing

Best to be warned if a new roof is being put on or some other major work is due shortly to be shared between the leaseholders and will materially impact the level of the maintenance charges or require a specific payment. How much is the ground rent and service charge? Does the lease have onerous restrictions?