I am expecting a mortgage with Nat West. My intention is to employ the services of a Licensed Conveyancer in Sandhurst. Does the Nat West Conveyancing panel include Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Why is leasehold purchase conveyancing in Sandhurst is more expensive?
The conveyancing costs on a leasehold premises in Sandhurst is often more expensive as compared to a freehold residence. This is due to the extra investigations required in communicating with the landlord and managing agents to collate the information concerning whether the rent and maintenance fee have been cleared and whether there are any major works due in the near future on repairs or maintenance of the block.
My wife and I are buying a flat in Sandhurst. I might seem paranoid but how we can trust a solicitor? On completion day we will need to put money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I had a mortgage agreed in principle with HSBC. Sandhurst conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC completed the valuation? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Sandhurst solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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 Sandhurst 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.
We are downsizing from our house in Sandhurst and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Sandhurst conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a national conveyancing practice rather than a conveyancing solicitor in Sandhurst. We have lived in Sandhurst for 5 years we know of no issue. Do we contact our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Am I right to be wary that 3rd parties that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local Sandhurst conveyancing firm?
As is the case with lots of service providers, often input from relatives can be extremely useful or valuable. But there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and banks might all suggest conveyancers to instruct. On occasion these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You are at liberty to select your preferred lawyer. You need to be aware that many banks have an approved list of conveyancers you have to use for the mortgage related work in your transaction.
Last December I purchased a leasehold flat in Sandhurst. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a studio flat in Sandhurst, conveyancing formalities finalised in 2004. How much will my lease extension cost? Similar properties in Sandhurst with an extended lease are worth £260,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2098
You have 75 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.