Unfortunately I am unable to travel far from Woking. I would like to know the understand why all Woking property lawyers aren't included on all lender panels?

Mortgage Companies tend to restrict either the nature or volume of conveyancing practices on their panel. A common example of such criteria being that the firm needs to have two or more partners. In addition to restricting the structure of firm, some building societies decided to restrict the number of practices they allow to represent them. You should note that banks have no liability for the standard of service provided by any Woking conveyancer on their panel. Increases in mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago even though there are opposing opinions about whether solicitors sat at the center of that fraud. Data from the Land Registry exposes that thousands of law practices only transact a couple of conveyances annually. Those vindicating conveyancing panel cuts question why law firms deserve the right to be listed on a lender panel when clearly property law is not their primary expertise?

My house in Woking is up for sale and I have accepted an offer. Will my lawyer have to be required to be on the Coventry BS conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Woking. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Woking

Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Woking. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Woking are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Woking in which case you should be shopping around for a Woking conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.

I purchased a leasehold flat in Woking, conveyancing formalities finalised March 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Woking with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease ceases 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 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

I need to find a lender panel solicitor in Woking. Could you help me?

It is not clear why you need a Woking panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Woking are on their panel . If you do find such a firm in Woking not listed please direct them to our site to list. After all the cost is only one £1 a month