I am nearing exchange of contracts for my home in Windsor and the estate agent has just text me to advise that the buyers are changing their conveyancer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a major mortgage company only engage with specific solicitors rather the firm that they want to choose for their conveyancing in Windsor ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies attribute this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Would the conveyancing lawyers identified through your search tool handle auction conveyancing in Windsor?
We know of a few auction practitioners we can put you in touch with those conducting auction conveyancing. Windsor is just one of hundreds of locations in which our lawyers are based.
We are purchasing a terrace house in Windsor. We would like to an extension at the rear at the property.Will the conveyancing process involve investigations to see if these alterations are prohibited?
Your solicitor should check the deeds as conveyancing in Windsor will sometimes reveal restrictions in the title documents which prevent certain changes or necessitated the consent of another owner. Certain extensions call for local authority planning permissions and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
When it comes to lenders such as Nottingham, do Windsor conveyancers have to pay an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Planning on purchasing a house in Windsor. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Windsor conveyancing practitioner is on the Bank of Ireland conveyancing panel.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Windsor I like with amenity areas and railway links in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Windsor for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am downsizing from my home. My former lawyers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Windsor if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Windsor. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I’m about to sell my garden flat in Windsor. Conveyancing lawyers have not yet been instructed, however I have recently had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge as usual because all rents and service payments should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a split level flat in Windsor, conveyancing was carried out June 2010. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Windsor with an extended lease are worth £195,000. The ground rent is £45 yearly. The lease runs out on 21st October 2087
With only 63 years remaining on your lease we estimate the premium for your lease extension to range between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.