Me and my fiance are hoping to buy a 1 bedroom flat in Reading with a mortgage. We would like to retain our Reading solicitor, but the bank advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Reading solicitor and pay for one of their panel lawyers to act for them. We consider that this is unjust; can we not demand that the lender use our Reading conveyancer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Reading conveyancing solicitor to apply to be on the conveyancing panel.
Please could you suggest a Britannia accepted Reading conveyancing practice that can complete within 10 days? Would it be better to use a local Reading firm or an internet firm?
We would be happy to suggest some excellent Reading conveyancing firms. You can also walk up the high street in Reading. Approach some well established law practices and request to speak with a conveyancing solicitor for a quote. Discuss your time frames together with your reasons and ask for an assurance on speed. Select the one that genuine.
I own a freehold property in Reading yet charged rent, why is this and what is this?
It’s unusual for properties in Reading and has limited impact for conveyancing in Reading but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when buying a house in Reading?
Unless a prior acquisition of the property completed after 12 October 2013 you could take it that lawyers handling conveyancing in Reading to remain recommending a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Reading is where the house is located. What do you suggest?
Flying freeholds in Reading are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Reading you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Reading may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are novice buyers - had an offer accepted, yet the selling agent advised that the vendor will only issue a contract if we use the agent's recommended lawyers as they want a ‘quick sale’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Reading
It is highly unlikely the owners are driving this. Should the vendor require ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to go, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you are going to use your preferred Reading conveyancing lawyers - not the ones that will provide their negotiator at the agency a referral fee or meet his conveyancing targets pre-set by senior management.