Me and my partner are purchasing a 1 bedroom apartment in Winnersh with a mortgage. We like our Winnersh conveyancer, however the bank advise he's not on their "panel". We have to appoint one of the lender panel firms or continue with our Winnersh solicitor and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Winnersh conveyancing lawyer to apply to be on the conveyancing panel.
We are nearing an exchange on a flat in Winnersh and my parents have sent the exchange deposit to my solicitor. I am now informed that as the deposit has not come from me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your conveyancing practitioner is obliged to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am buying a semi-detached house in Winnersh. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Winnersh you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Winnersh.
Have just purchased a repossessed house at auction in Winnersh. Conveyancing is necessary. What are my next steps?
Having legally committed yourself to purchase you will need to choose a conveyancing lawyer as a matter of priority as you are faced with a fast approaching deadline in which to complete the transaction. An auction property will ordinarily have a corresponding auction pack. This will include evidence of title and search results. In the case of leasehold property the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You must hand this to the conveyancer working for you at the earliest opportunity. Do make sure that your finances are organised to complete on the date specified in the contract.
I am buying a end of terrace house in Winnersh. We would like to carry out a loft conversion at the house.Will legal due diligence on the property include enquiries to determine if these works were previously refused?
Your conveyancer should check the registered title as conveyancing in Winnersh can occasionally identify restrictions in the title documents which restrict categories of alterations or require the consent of a 3rd party. Certain works call for local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
I had a mortgage agreed in principle with Leeds Building Society. Winnersh conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
Some lenders take longer than others. Have Leeds Building Society done the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am looking for a ground for flat up to £245,000 and found one round the corner in Winnersh I like with open areas and station in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Winnersh suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may 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 lawyer concerning this.