I have just been advised by my estate agent that my Caversham solicitor is not on the mortgage company Solicitor panel. What can I do to be certain whether this is indeed the case?
The sensible course of action for you to take is to call your Caversham conveyancer. You lawyer should advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather instruct a Caversham based conveyancing firm?
You should check but the the likelihood is that give you one of their panel lawyers where you take up the "fee-free" deal. Speak to the bank and determine if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Caversham.
Forgive me if this question is silly but I am new to the home buying as FTB of a ground floor flat in Caversham. Do I pick up the keys to the premises on completion from my lawyer? If so, I will appoint a local conveyancing solicitor in Caversham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you should be called to receive the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
I am being advised by my lawyer that absentee landlord insurance is required on my purchase. What is the level of cover for Caversham conveyancing?
The right level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
I am purchasing a property in Caversham. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
As you are obtaining a mortgage with Barclays your lawyer must comply with the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease does not meet these requirements. The requirements relate to the installation of panels on properties nationwide and is not isolated to Caversham.
I am buying a new build house in Caversham with the aid of help to buy. The sellers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not disclose to my lawyer about this deal as it will impact my mortgage with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Caversham I like with open areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Caversham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
In scouring the world wide web for the term cheap conveyancing in Caversham it shows results of numerous property lawyersin the vicinity. How do I determine which is the suitable conveyancing solicitor for purchase transaction?
The ideal method of seeking the right conveyancer is via trusted referral, so enquire of colleagues and family who have bought a property in Caversham or a reputable estate agent or financial adviser. Charges for conveyancing in Caversham differ, so it's sensible to request at least three quotes from varying types of property lawyers. Dont forget to clarify that the charges are assured not to increase.