My IFA has asked me for my Newbury solicitor’s panel reference for the Santander conveyancing panel. What is the best way to find this out. I have tried my local Newbury branch but they have not responded to me.
You are best placed to get this information from your Newbury property lawyer . They keep a central record lender panel numbers.
What is the optimum way to check that the solicitor carrying out my conveyancing in Newbury is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £187.00 plus VAT in supplemental legal costs.
Please do take advantage of the search tool on this site. Please choose the lender and type ‘Newbury’ or your location and you will see a number of lawyer based in Newbury or by proximity to you.
I have been advised by my solicitor that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Newbury?
The appropriate level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I'm the single recipient of my late father’s will with all property in now in my sole name, including the house in Newbury. The Newbury property was put into my name in December. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the house in December. Do I have to wait half a year to sell?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Some mortgage companies would take a practical view as this clause is principally there to pick up on subsales or the wholesaling and assigning of properties.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being problematic. The Newbury solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I need some expedited conveyancing in Newbury as I am under pressure to exchange contracts inside 3 weeks. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not taking a home loan you are at liberty not to do searches although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Newbury the following are instances of issues that can show up and adversely impact market value: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
The deeds to our property can not be found. The lawyers who handled the conveyancing in Newbury 4 years ago have long since closed. What are my next steps?
Gone are the days when you need to have the physical original deeds to prove you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Newbury differ for new build properties?
Most buyers of new build or newly converted property in Newbury come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because developers in Newbury typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Newbury or who has acted in the same development.