I am selling my house in Waterloo. Will the lawyer need to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?

Ordinarily, even if your lawyer is not on the Nationwide 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 requirements fairly frequently at the moment.

Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Waterloo?

There are two types of lawyers who can carry out conveyancing in Waterloo namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that you need to complete the disposal or purchase of property. Both are required to conduct Waterloo conveyancing to the same quality and guidelines so you may be safe in the knowledge that your conveyancing will be professionally conducted and that all necessary steps should be correctly attended to.

Can I be sure that the Waterloo conveyancing solicitor on the Nationwide panel is any good?

When it comes to conveyancing in Waterloo obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your conveyancing.

I have decided to exercise my right to buy my property in Waterloo off the council. I have a mortgage offer with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.

I require fast conveyancing in Waterloo as I have pressure to sign on the dotted line inside one month. Fortunately I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?

As you are are a cash purchaser you are at free not to have searches conducted although no law firm would advise that you don't. With plenty of history conveyancing in Waterloo the following are instances of issues that can show up and adversely impact future mortgageability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Road Schemes,...

How does conveyancing in Waterloo differ for newly converted properties?

Most buyers of new build residence in Waterloo come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Waterloo tend to acquire the land, 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 Waterloo or who has acted in the same development.

In relation to leasehold conveyancing in Waterloo what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Waterloo. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Mortgage Works, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I invested in buying a 1 bedroom flat in Waterloo, conveyancing formalities finalised April 2004. Can you work out an approximate cost of a lease extension? Similar flats in Waterloo with a long lease are worth £186,000. The ground rent is £55 yearly. The lease ends on 21st October 2078

With 53 years left to run we estimate the price of your lease extension to be between £27,600 and £31,800 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.