I am obtaining a offer of a home loan from Halifax. I intend to use a Licensed Conveyancer in Ampthill. Does the Halifax Conveyancing panel allow for conveyancers regulated by the CLC?
The Halifax approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I purchased a freehold property in Ampthill yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Ampthill and has limited impact for conveyancing in Ampthill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I'm purchasing my first flat in Ampthill with a loan from Norwich and Peterborough Building Society. The builders would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not disclose to my conveyancer about the deal as it will put at risk my loan with Norwich and Peterborough Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 urged me to instruct his conveyancing solicitors in Ampthill. Do I take his advice?
Much as we are happy to recommend a Ampthill conveyancing lawyer the ideal way to choose a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the conveyancer that you are are thinking of instructing.
When it comes to leasehold conveyancing in Ampthill what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Ampthill. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Coventry Building Society, and Nottingham Building Society all have express 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 provide security, forcing the buyer to withdraw.
I purchased a garden flat in Ampthill, conveyancing was carried out May 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Ampthill with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ceases on 21st October 2097
With 72 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
Are Ampthill conveyancing solicitors under an obligation to the Law Society to issue transparent conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Ampthill or further afield.