My Abbots Langley conveyancer has identified a discrepancy when comparing the surveyor’s assumptions in the home valuation report and what is in the conveyancing documents. My solicitor has advised that he must check that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions 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.
After reading online forums for an online lawyer in Abbots Langley, most post that I should use a CQS kitemarked lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing procedures through the scheme protocol Membership includes numerous firms who carry out conveyancing in Abbots Langley.
The deeds to our home are lost. The solicitors who dealt with the conveyancing in Abbots Langley 5 years ago are no longer around. What are my next steps?
Gone are the days when you need to have the physical deeds to prove you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
I'm purchasing my first flat in Abbots Langley benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my solicitor about the deal as it would jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My brother has recommend that I use his conveyancing solicitors in Abbots Langley. Do I follow his guidance?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to get referrals from friends or relatives who have actually previously instructed the firm you're are thinking of instructing.
I work for a long established estate agent office in Abbots Langley where we have witnessed a number of flat sales jeopardised due to short leases. I have been given conflicting advice from local Abbots Langley conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a ground floor flat in Abbots Langley, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Abbots Langley with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2101
With 76 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.