I am selling my maisonette in Berkeley and the EA has just text me to warn that the buyers are appointing a new law firm. I am told that this is due to the fact that the lender will only engage with solicitors on their approved list. Why would a leading mortgage company only engage with specific lawyers rather the firm that they want to choose for their conveyancing in Berkeley ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
We are buying a detached bungalow in Berkeley. The intention is to an extension at the rear at the house.Will legal due diligence on the property involve investigations to determine if these works are permitted?
Your solicitor will check the registered title as conveyancing in Berkeley will occasionally identify restrictions in the title documents which prohibit categories of changes or need the permission of another owner. Some additions need local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
We are getting the release of further monies on our home loan from RBS as we intend to conduct a loft conversion to our property in Berkeley. Do we need to choose a high street Berkeley solicitor on the RBS conveyancing panel to deal with the legals?
RBS do not ordinarily appoint a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I was told four weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Berkeley is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
What can a local search tell me about the property my wife and I buying in Berkeley?
Berkeley conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance Searchflow The local search is essential in every Berkeley conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search will supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one near me in Berkeley I like with amenity areas and railway links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Berkeley for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage that many years will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I need to retain a conveyancing solicitor for remortgage conveyancing in Berkeley. I happened to discover a site which looks to be the perfect offering If there is a chance to get all this stuff completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My folks cant seem to find their Berkeley land registry title on the site. They have a vague recollection back in the 70’s when they purchased the house there were complications with Berkeley not being recognised in some systems.
Nearly all properties in Berkeley should appear. Have you attempted a search with just the postcode. Usually it should mention all the properties within that postcode. Where registered it will show up with a title number. Where they bought back in the 70’s it's conceivable it may be not yet registered. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title deeds which might be with your parent’s bank.