Me and my partner are planning to purchase a 1 bedroom apartment in Berkshire with a mortgage. We would like to retain our Berkshire conveyancer, but the mortgage company advise she’s not on their "panel". It appears that we have little option but to use one of the mortgage company panel firms or retain our Berkshire solicitor and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you 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. Another option that might be available is for your Berkshire conveyancing lawyer to apply to be on the conveyancing panel.
We are approaching an exchange on a flat in Berkshire and my mum and dad have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has not come from me my conveyancer needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The conveyancer is legally required to check with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My grandfather passed away last year and as sole heir and executor I was left the property in Berkshire. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then TSB will insist on your using a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Aldermore, do Berkshire solicitors face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house in Berkshire. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
Given that you are obtaining a mortgage with Lloyds your lawyer must comply with the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease does not meet these conditions. The conditions relate to the installation of panels on properties countrywide and is not restricted to Berkshire.
Our sealed bid on a house in Berkshire has been agreed to, the vendors do nevertheless have a tied purchase. The owners have put an offer on on an apartment, however it’s not yet agreed to, and have viewings of other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Berkshire. What should be my next step? At what point should I apply for the mortgage with Principality?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of £1k, then valuation, Berkshire conveyancing search charges, etc). First, you must check that your conveyancer is on the Principality approved list. Concerning the next steps this very much dictated by the uniqueness of your transaction, motivation for the property and on the state of the market. In a rising market some home buyers would apply for a home loan with Principality and arrange for the valuation and only if it comes back ok would they request their conveyancer to proceed with searches.
Should commercial conveyancing searches reveal proposed roadworks that may affect a commercial estate in Berkshire?
Many commercial conveyancing solicitors in Berkshire will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Berkshire. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Berkshire.
For every commercial conveyancing transaction in Berkshire it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Berkshire commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Berkshire.
I am looking for a flat up to £195,000 and found one near me in Berkshire I like with open areas and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Berkshire for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.