My Wokingham conveyancer has spotted an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer has advised that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Can you point me to a directory of Lloyds panel solicitors in Wokingham on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. Very few banks make their panel listings available on the web. Where you are in need of a Wokingham conveyancing practitioner on the Lloyds please make the most of our tool.
We had instructed conveyancers based in Wokingham on the Clydesdale solicitor approved list. They are now charging me an additional fee for handling the Clydesdale mortgage. Is this an additional conveyancing fee specified by Clydesdale?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer can levy a fee for this. This fee is not set by Clydesdale but by your Wokingham conveyancing practitioner. Numerous firms on the Clydesdale panel will charge an ‘acting for lender’ fee and others do not.
I have paid off my mortgage with RBS. I assume I don't need a Wokingham property lawyer on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial site in Wokingham?
Many commercial conveyancing solicitors in Wokingham will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Wokingham. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wokingham.
For every commercial conveyancing transaction in Wokingham it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Wokingham commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Wokingham.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Wokingham is where the house is located. What do you suggest?
Flying freeholds in Wokingham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wokingham you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wokingham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Should I appoint a Wokingham conveyancing solicitor who is local to the property I am buying? We have a good friend who can deal with the legal work however her office is a couple of hundredkilometers away.
The primary upside of using a local Wokingham conveyancing firm is that you can pop in to execute paperwork, deliver your identification documents and apply pressure on them if necessary. Having local Wokingham know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and the majority were impressed that must outweigh using an unknown Wokingham conveyancing lawyer solely due to them being Wokingham based.
I have just appointed agents to market my garden apartment in Wokingham. Conveyancing is yet to be initiated, however I have just had a yearly service charge demand – Do I pay up?
It best that you discharge the maintenance contribution as usual given that all ground rent and maintenance invoices should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a basement flat in Wokingham, conveyancing formalities finalised January 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Wokingham with an extended lease are worth £165,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2102
With 77 years unexpired we estimate the premium for your lease extension to range between £7,600 and £8,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.