My wife and I are intent on buying a ground floor flat in Woodcote. My property lawyer is not on the bank solicitor list. Am I still permitted to appoint my Woodcote conveyancing solicitor even though they are not on the lender panel?
Various options include
- Complete the deal with your existing Woodcote solicitor but your mortgage company will undoubtedly appoint a lawyer from their conveyancing panel. This will result in additional cost together with probable frustration.
- Appoint a new conveyancing practitioner to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your lawyer to do everything within their powers to join the bank’s conveyancing panel
I am looking for a leasehold apartment up to £235,500 and identified one near me in Woodcote I like with amenity areas and railway links in the vicinity, however it only has 49 years on the lease. There is not much else in Woodcote suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could 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 with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
How do I search for a Woodcote solicitor on the Barclays conveyancing panel? I am a keen cyclist and am prepared to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the search on this page. Please choose the bank and your location and you will see a number of Woodcote conveyancing lawyers located nearest you. We have detailed some Woodcote conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Barclays panel
I've recently bought a leasehold house in Woodcote. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a split level flat in Woodcote, conveyancing formalities finalised 8 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? Comparable flats in Woodcote with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2083
With 65 years left to run the likely cost is going to span between £13,300 and £15,400 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
Me and my husband have recently had an offer agreed on a apartment and had meeting on Wednesday with Nationwide for the mortgage. They warned us that when it comes to appointing a solicitor that if they are not on their approved list of lawyers then we will incur an additional charge of £200. This is because they will then have to instruct a property lawyer to act for them in addition to the one we appoint for ourselves and we will be on the hook for their fees. I have asked Nationwide to send me with a list so I can obtain estimates only from their approved solicitors but was told they dont have such a list to hand over. Is there a list online?
You should ask Nationwide what their panel criteria is for a conveyancer.Thereafter ask the solicitor of your choice whether they meet the criteria and have they acted on mortgages for Nationwide in the past. If the answer to those is yes, then just double check with Nationwide. Alternatively please utilise our search tool and we should be able to find you a property lawyer in Woodcote on the panel for Nationwide.