Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Theale. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/1/2023, the requirements read as follows :
I was told two weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Theale is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've digested plenty 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 Theale solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays 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. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Theale postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Theale.
Our sealed bid on a semi in Theale has been agreed to, the vendors do nevertheless have a dependent purchase. The owners have offered on on an apartment, however it’s not been accepted yet, and are looking at other apartments booked. I have selected a local conveyancing solicitor in Theale. What should be my next step? When do I get the mortgage application with Lloyds going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then survey, Theale conveyancing search costs, etc). First, you must check that your lawyer is on the Lloyds conveyancing panel. As to the subsequent steps this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. In a rising market the majority of home buyers will apply for a home loan with Lloyds and arrange for the valuation and only if it comes back ok would they ask their property lawyer to move forward with the conveyancing in Theale.
How does conveyancing in Theale differ for new build properties?
Most buyers of new build residence in Theale come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Theale typically purchase the site, 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 property lawyers 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 Theale or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Theale ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies will not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Theale. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Theale to see if the conveyancing will be more expensive.
In my capacity as executor for the estate of my aunt I am selling a property in Neath but reside in Theale. My conveyancer (based 235 kilometers from meneeds me to execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Theale who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Theale based
If all goes to plan we aim to complete our sale of a £450,000 garden flat in Theale in 8 days. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Theale?
Theale conveyancing on leasehold apartments normally results in administration charges raised by managing agents :
Addressing conveyancing due diligence enquiries
Where consent is required before sale in Theale
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a studio flat in Theale, conveyancing having been completed 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Theale with over 90 years remaining are worth £227,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2094
You have 71 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.