We previously instructed conveyancing lawyers based in Theale on the Bank of Ireland solicitor approved list. They are now charging me a separate charge for the legal aspects of the Bank of Ireland mortgage. Is this an additional conveyancing fee specified by Bank of Ireland?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. This fee is not set by Bank of Ireland but by your Theale solicitor. Numerous firms on the Bank of Ireland panel will levy an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
I had a mortgage agreed in principle with Lloyds. Theale conveyancing practitioners are instructed. How long does it take for Lloyds to send the offer to the solicitor?
Some lenders take longer than others. Have Lloyds completed the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am purchasing a property in Theale. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?
Given that you are obtaining a mortgage with Clydesdale your lawyer must follow the conveyancing instructions contained in Section 2 of UK Finance Lenders’ Handbook for Clydesdale. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to Clydesdale where a lease fails to satisfy these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Theale.
I require expedited conveyancing in Theale as I have pressure to complete in less than 4 weeks. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you are at free not to do searches although no law firm would advise that you don't. Drawing on our experience of conveyancing in Theale the following are examples of issues that can arise and therefore affect future mortgageability: Enforcement Actions, Outstanding Charges, Overdue Grants, Road Schemes,...
How does conveyancing in Theale differ for new build properties?
Most buyers of new build premises in Theale come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers 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 conveyancing solicitors 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.
I decided to have a survey completed on a property in Theale before appointing lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend refuse to give a mortgage on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Theale. Conveyancing will be smoother if you use a solicitor in Theale especially if they are familiar with such properties in Theale.
Am I best advised to appoint a Theale conveyancing solicitor based in the location that I am hoping to buy? An old friend can handle the legal work however his firm is located over three hundred miles drive away.
The benefit of a local Theale conveyancing practice is that you can drop in to execute paperwork, deliver your ID and pester them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were impressed that should trump using an unfamiliar Theale conveyancing solicitor solely due to them being local.
I only have 72 years remaining on my lease in Theale. I now wish to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the landlord. In some cases a specialist may be helpful to try and locate and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Theale.
Leasehold Conveyancing in Theale - A selection of Questions you should consider Prior to Purchasing
The majority of Theale leasehold flats will be liable to pay a service charge for maintenance of the block invoiced by the management company. Where you acquire the apartment you will have to meet this amount, usually quarterly accross the year. This could vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent to be met annual, this is usually not a large sum, say around £50-£100 but you need to enquire it because occasionally it could be surprisingly expensive. What is the maintenance charge and ground rent on the apartment? How long is the Lease?