Me and my fiance are purchasing a 2 bedroom flat in Burghfield Common with a mortgage. We wish to retain our Burghfield Common conveyancer, however the mortgage company says she’s not on their "panel". We have to appoint one of the lender panel firms or continue with our Burghfield Common conveyancing practitioner and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Burghfield Common conveyancing lawyer to apply to be on the conveyancing panel.
The sellers of the house we are purchasing have instructed a conveyancing solicitor in Burghfield Common who has recommended a preliminary agreement with a deposit 10k. Is it wise to enter into such agreements?
Lock out contracts are agreements binding a home owner and prospective acquirer giving the buyer a ‘clear field’ to purchase the premises within an agreed time frame. Essentially, a lock out agreement is a contract stating that you should be issued with a contract at a later date being the contract for the actual sale. It is generally used for buyer confidence though in many situations, the seller may enjoy an upside from such agreements as well. There are numerous positives and negatives to using an agreement but you should to check with your conveyancer but note that it may end up costing you more in conveyancing charges. In light of these reasons these contracts are unusual in relation to conveyancing in Burghfield Common.
we are a couple who are buying a newly converted flat in Burghfield Common with a residential mortgage from Birmingham Midshires.We use our Burghfield Common conveyancing solicitor but Birmingham Midshires advised that he's not on their "panel". It seems we are left with no choice but to instruct a Birmingham Midshires panel solicitor or retain our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Birmingham Midshires use our lawyer?
No, not really. The home loan offered to you contains terms and conditions, a common one being that solicitors must be on the Birmingham Midshires solicitor panel. in the past, 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 lawyer to apply to be on the conveyancing panel for Birmingham Midshires
As co-executor for the estate of my grandfather I am disposing of a property in Swansea but reside in Burghfield Common. My lawyer (who is 250 miles awayhas requested that I sign a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Burghfield Common who can attest this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Burghfield Common based
Last March I purchased a leasehold property in Burghfield Common. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. A critical element 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 inherited a studio flat in Burghfield Common, conveyancing was carried out 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Burghfield Common with an extended lease are worth £195,000. The ground rent is £45 per annum. The lease runs out on 21st October 2088
You have 63 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 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 in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
What is the reason for new build conveyancing in Burghfield Common being more expensive?
Conveyancing in Burghfield Common for newly converted or new build premises often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as additional queries and contractual concerns.