My husband and I are purchasing a 3 bedroom flat in Arlesey with a mortgage. We like our Arlesey solicitor, however the mortgage company advise he's not on their "panel". It appears that we have little choice but to appoint one of the bank panel firms or keep our Arlesey solicitor as well as pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Arlesey conveyancing lawyer to apply to be on the conveyancing panel.
I am selling my home in Arlesey. Will my lawyer need to be on the Principality conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality 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 commercial conveyancing searches reveal impending roadworks that may impact a commercial site in Arlesey?
Its becoming the norm that commercial conveyancing solicitors in Arlesey will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Arlesey. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Arlesey.
For every commercial conveyancing transaction in Arlesey it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Arlesey commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Arlesey.
How does conveyancing in Arlesey differ for new build properties?
Most buyers of new build or newly converted property in Arlesey contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Arlesey usually buy the real estate, 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 property lawyers 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 Arlesey or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Arlesey I like with open areas and station in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Arlesey in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Arlesey and how can your lawyers assist?
The particular law that you refer to gives protection to commercial leaseholders, giving them the a statutory right to make a request to court for a new lease and remain in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Arlesey