I am purchasing residence in Frimley. My property lawyer has never been on on the lender solicitor list. Am I still permitted to use my Frimley conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
Your options include
- Complete the purchase with your chosen Frimley solicitor but your mortgage company will need to retain a conveyancing practitioner from their conveyancing panel. The net result is additional charges and potential frustration.
- Choose a new conveyancer to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Appeal to your property lawyer to apply to join the mortgage company panel
I am in a contract race with another buyer for a property in Frimley. What can be done to expedite the legal process?
Where you are under pressure for your conveyancing we would recommend that your lawyer is familiar with the area as they will benefit local contacts and intelligence. It is possible that they may have handled otherhomes in the same neighbourhood. Therefore consider using a Frimley conveyancing lawyer. Second, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that nearly one in five of Frimley conveyancing transactions are delayed or derailed after discovering a purchaser’s solicitor was not on their banks panel. This can often result in the transaction being held up by almost three weeks. It is said that this issue affects approximately one hundred thousand home moves every year. Many Frimley conveyancing practices can not represent certain banks so do check as early as possible.
Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Frimley.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Frimley. Plenty of people will purchase a house in Frimley, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Frimley. The standard property information forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover if the premises has historically flooded. If flooding has previously occurred and is not notified by the seller, then a buyer may issue a compensation claim as a result of such an misleading answer. The purchaser’s solicitors should also commission an environmental report. This should indicate whether there is any known flood risk. If so, more detailed inquiries should be carried out.
I have todaydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Frimley for a purchase of a freehold house 9 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest method to see 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 Frimley conveyancing specialists.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in Frimley I like with a park and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Frimley for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I am looking at a two apartments in Frimley which have in the region of 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Frimley. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area.
Frimley Conveyancing for Leasehold Flats - Sample of Queries before buying
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Can you inform me if there are any major works on the horizon that could add a premium to the maintenance fees? What prohibitions exist in the Frimley Lease?