Me and my wife are acquiring an apartment in Ascot. My property lawyer has never been on on the lender solicitor panel. Is it possible for me to use my Ascot conveyancing solicitor notwithstanding that they are excluded from the mortgage company list of approved lawyers?
You have a couple of choices available to you here
- Carry on with your existing Ascot conveyancing practitioner but your mortgage company will need to appoint a conveyancing practitioner on their approved panel. This will result in additional charges together with potential frustration.
- Choose a fresh conveyancing practitioner to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your property lawyer to apply to join the mortgage company panel
Can the conveyancing practitioners that are recommend execute auction conveyancing in Ascot?
There are a few niche solicitors we can put you in touch with those specialising in auction conveyancing. Ascot is just one of our locations in which our lawyers have a presence.
I am the registered owner of a freehold residence in Ascot yet charged rent, why is this and what is this?
It is rare for properties in Ascot and has limited impact for conveyancing in Ascot but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am being told by my solicitor that lack of planning permission insurance is needed on my purchase. What is the level of cover for Ascot conveyancing?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such insurances.
We have a mortgage agreed in principle with Clydesdale. Ascot conveyancing lawyers are selected. How long does it take for Clydesdale to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Clydesdale done the survey? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
At last I have had an offer on a flat in Ascot accepted, the owners do nevertheless have a tied purchase. The sellers have put an offer on on an apartment, but it’s not yet agreed to, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Ascot. What do I do now? At what point should I apply for the mortgage with Co-operative?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Ascot conveyancing search costs, etc). The first thing to do is check that your solicitor is on the Co-operative approved list. Regarding the subsequent phase this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market many home buyers will apply for the mortgage with Co-operative and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to press on with searches.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who handled the conveyancing in Ascot 4 years ago have long since closed. What are my next steps?
Assuming the title is registered the information relating to your ownership will be recorded by HMLR under a Title Number. It is possible to conduct a search at the Land Registry, identify your property and get current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will also normally hold a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I am looking for a ground for flat up to £245,000 and identified one close by in Ascot I like with open areas and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Ascot for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.