In the event thatI were to buy a freehold propertyin Reading mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to to save on my conveyancing in Reading?
Any savings you would achieve would be limited to the costs for searches. Your solicitor is obliged to do the vast majority of work - money laundering, communicating with the vendors conveyancer, stamp duty return, register the ownership etc. You might save a bit for them not needing to register a mortgage however it will not be a lot.
I am selling my flat in Reading. Will the property lawyer need to be required to be on the TSB conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
We are buying a detached bungalow in Reading. Our aim is to carry out an extension to the side at the house.Will legal conveyancing on the property involve investigations to ascertain if these alterations are permitted?
Your conveyancer should check the deeds as conveyancing in Reading can occasionally reveal restrictions in the title deeds which prohibit certain changes or need the consent of a 3rd party. Some additions need local authority planning permissions and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
We have agreed to purchase a house in Reading. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must follow the conveyancing instructions contained in Part 2 of UK Finance Lenders’ Handbook for Principality. The CML Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Principality where a lease does not meet these specifications. The conditions relate to the installation of panels on properties countrywide and is not isolated to Reading.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Reading solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Reading surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
three months have elapsed since my purchase conveyancing in Reading concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the advice of my in-laws I had a survey completed on a property in Reading ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks will not issue a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. Should you wish to telephone us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Reading. Conveyancing will be smoother if you use a solicitor in Reading especially if they are acquainted with such properties in Reading.
I was advised by a number of estate agents in Reading to select a conveyancer on your site. Is there a financial inducement for Estate Agents to recommend your services over another?
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