My husband and I are hoping to buy a purpose built apartment in Witney with a loan from Barclays Direct.We use our Witney conveyancing lawyer but Barclays Direct informed us he's not on their "panel". It seems we are left with little choice but to instruct a Barclays Direct panel solicitor or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Barclays Direct use our lawyer?
No, not really. The home loan offered to you contains terms and conditions, one of which will be that conveyancers needs to be on the Barclays Direct approved list. in the past, most banks had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for Barclays Direct
My lawyer has informed me that lack of building regulations insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Witney?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Barnsley Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Witney property lawyer on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
At last I have had an offer on a maisonette in Witney accepted, the owners do nevertheless have a dependent purchase. The vendors have put an offer on a flat, but it’s not been accepted yet, and are looking at other properties booked. I have selected a high street conveyancing solicitor in Witney. What do I do now? When should I get the mortgage application with Nationwide going?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Witney conveyancing search costs, etc). The first course of action is to check that your conveyancer is on the Nationwide approved list. Concerning the next stages this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. During a buoyant market some home buyers will apply for a home loan with Nationwide and pay for the valuation and only if it comes back ok would they pay their solicitor to move forward with searches.
I opted to have a survey carried out on a house in Witney before instructing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders will not grant a loan on such a premises.
It depends who your proposed lender is. Santander has different instructions from Halifax. If you contact us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Witney. Conveyancing may be slightly more expensive based on your lender's requirements.
In my capacity as executor for the estate of my grandfather I am disposing of a residence in Newport but reside in Witney. My lawyer (who is 300 kilometers from merequires that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing lawyer in Witney who can witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Witney based
Estate agents have just been given the go-ahead to market my garden apartment in Witney. Conveyancing solicitors are to be appointed soon, but I have just had a half-yearly service charge demand – Do I pay up?
The sensible thing to do is clear the invoice as usual because all ground rent and service charges should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I bought a garden flat in Witney, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Witney with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2079
With 54 years remaining on your lease we estimate the price of your lease extension to be between £32,300 and £37,400 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.