Recently been in touch with my conveyancing lawyer in Wokingham who conducted the legals 18 months ago requesting a conveyancing costs illustration based on the same type of house move (a leasehold residence and a freehold premises) of similar values with a home loan from Norwich and Peterborough Building Society. I am now being quoted twice the amount. Am I right to be tempted to shop around for a cheaper online firm of conveyancing solicitor?
The quote is fractionally on the steep side. If you you were to look around you could trim some of the cost by as much as a hundred pounds. On the other hand, if you were satisfied with the conveyancing the firm provided you couldlive to regret choosing an an untested conveyancer. If is important to ensure the firm can represent Norwich and Peterborough Building Society. You can use our search tool to choose a Wokingham conveyancing firm on the Norwich and Peterborough Building Society approved list of lawyers, which can often include conveyancing solicitors in Wokingham.
My Wokingham conveyancer has uncovered a difference when comparing the information in the home valuation survey and what is in the legal papers for the property. My solicitor has advised that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action legitimate?
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.
My wife and I are buying a house in Wokingham. It might be a silly question but how we can trust a conveyancer? On completion day we will need to put money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Wokingham. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the house in November. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. Some mortgage companies would take a sensible view as this requirement is chiefly there to pick up on the purchase and immediately sell or the quick reselling of property.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Wokingham solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 property lawyer 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 Wokingham postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Wokingham.
Should our conveyancer be making enquiries concerning flooding as part of the conveyancing in Wokingham.
Flooding is a growing risk for lawyers carrying out conveyancing in Wokingham. Plenty of people will acquire a house in Wokingham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a various searches that may be initiated by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Wokingham. The standard completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to find out if the property has historically flooded. In the event that flooding has previously occurred which is not revealed by the owner, then a buyer may bring a compensation claim stemming from an inaccurate answer. The buyer’s conveyancers will also carry out an enviro search. This will disclose if there is a recorded flood risk. If so, additional inquiries should be initiated.
My wife and I own a 4 bedroom Victorian house in Wokingham. Conveyancing solicitor represented me and Barclays . I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to 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 Wokingham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing solicitor who conducted the work.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Wokingham is where the house is located. Is there any guidance you can give?
Flying freeholds in Wokingham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wokingham you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wokingham may ascertain 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 property.