Me and my partner are planning to purchase a 3 bedroom apartment in Thatcham with a mortgage. We have a Thatcham solicitor, but the bank advise she’s not on their "panel". It seems we have no choice but to instruct one of the mortgage company panel firms or keep our Thatcham conveyancer as well as pay for one of their panel ones to represent them. This feels very unfair; are we not able to demand that the bank use our Thatcham property lawyer ?
Unfortunately,no. Your mortgage offer 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 Thatcham conveyancing lawyer to apply to be on the conveyancing panel.
AssumingI was to purchase a straightforward housein Thatcham mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Thatcham?
Any savings you would gain will be limited to the costs for searches. The property lawyer still got to do everything else - money laundering, correspond with your vendors conveyancing practitioner, stamp duty return, register the title etc. You might save a bit for them not having to register a mortgage however it won't be meaningful.
My wife and I purchased a renovated Victorian house in Thatcham. Conveyancing practitioner acted for me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Thatcham and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing solicitor who completed the work.
I have been on the look out for a flat up to £195,000 and identified one near me in Thatcham I like with a park and station nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Thatcham in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I have been recommended by numerous estate agents in Thatcham to get a quote from a solicitor using your seach tool. Is there a financial incentive for Estate Agents to promote your lawyers over and above another?
We refuse to give any commission for sending work to this site. We thought it would be too underhand a fee because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I acquired a property in Thatcham last 26/6/2019 and to date it is still not registered with HMLR. It is part of a new estate and my conveyancer told me that it may take 12 months to register. I have called HM Land Registry directly and they say that the original application was cancelled due to questions not being addressed in time. What can I do?
get in touch with your conveyancer - if you are not getting sensible responses, enquire as to their internal complaints procedure and escalate your problem to a Partner. Registrations for Thatcham conveyancing are not known to be particularly slow.