I am being advised by my conveyancer that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Arlesey?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Birmingham Midshires and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such policies.
My wife and I have organised the release of further monies on our home loan from Co-operative as we wish to carry out renovations to our house in Arlesey. Are we obliged to select a nearby Arlesey solicitor on the Co-operative conveyancing panel to handle the legals?
Co-operative do not ordinarily require firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
I recently had an offer accepted on an apartment in Arlesey. My financial adviser pressured me to appoint their solicitor. I paid an advanced payment of £225. A few days later, the lawyer called me to say that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I used Stirling Law several years ago for my conveyancing in Arlesey. Now, I need the documents however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Arlesey of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £245,000 and found one near me in Arlesey I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Arlesey in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
How can the Landlord & Tenant Act 1954 impact my business offices in Arlesey and how can you help?
The particular law that you refer to gives security of tenure to business tenants, giving them the legal entitlement to apply to court for a renewal tenancy and continue in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Arlesey is one of the many areas of the UK in which our lawyers are based
Do you have any advice for leasehold conveyancing in Arlesey from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Arlesey can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers’ lawyers. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Arlesey state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such alterations. If you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer first. Many freeholders or managing agents in Arlesey levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Arlesey.
Arlesey Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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If a Arlesey lease has no more than 80 years it will impact the marketability of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Arleseylease extensions you will be required to have owned the property for two years before you are eligible to extend the lease. Its a good idea to discover as much as possible about the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the common parts. You should not be shy to ask prospective neighbours whether they are happy with their management. Finally, find out the dates that the maintenance fees are due to the managing agents and precisely what it includes. How much is the service charge and ground rent on the apartment?
What is the reason for my conveyancing practitioner requiring various items of identification ahead of starting my conveyancing in Arlesey?
Arlesey lawyers are duty bound by the Law Society, SRA, HM Land Registry and current AML legislation to record that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and date of birth.