We wanted to use a property lawyer in Bracknell for our house purchase. Our broker has since advised us that our mortgage lenders Leeds Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most lenders had an appetite for risk which was higher than today. Almost all Bracknell conveyancing firms would have been on most mortgage company panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms concerning their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of conveyancing. Many Bracknell conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Bracknell is one of the thousands of areas where the solicitors we recommend are members of the panel for Leeds Building Society.
I am selling our house in Bracknell and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using a nationwide conveyancing firm as opposed to a conveyancing solicitor in Bracknell. Having lived in Bracknell for three years we know of no issue. Should we get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have justfound out that Action Conveyancing have closed. They conducted my conveyancing in Bracknell for a purchase of a leasehold apartment 10 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bracknell conveyancing specialists.
Just had an offer accepted on a new build flat in Bracknell. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bracknell
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I opted to have a survey carried out on a house in Bracknell before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies tend not grant a mortgage on such a premises.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you contact us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bracknell. Conveyancing will be smoother if you use a solicitor in Bracknell especially if they are familiar with such properties in Bracknell.
I've recently bought a leasehold house in Bracknell. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee 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 purchased a split level flat in Bracknell, conveyancing formalities finalised half a dozen 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? Equivalent properties in Bracknell with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2100
With 79 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.