My wife and I are buying a 2 bedroom flat in Boxmoor with a mortgage. We like our Boxmoor lawyer, however the mortgage company advise he's not on their "panel". It appears that we have no choice but to use one of the lender panel conveyancing practices or retain our Boxmoor property lawyer and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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 Boxmoor conveyancing lawyer to apply to be on the conveyancing panel.
I own a freehold premises in Boxmoor but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Boxmoor and has limited impact for conveyancing in Boxmoor 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Due to the advice of my in-laws I had a survey completed on a house in Boxmoor in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks tend refuse to issue a loan on this type of property.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Boxmoor. Conveyancing may be slightly more expensive based on your lender's requirements.
Do I need to be suspicious that estate agents that I am dealing with are suggesting an internet conveyancing firm as opposed to a High Street Boxmoor conveyancing firm?
As is the case with many professional services, often input from connections can be worth their weight in gold. Yet there are numerous people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may put forward solicitors to choose. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You are free to appoint your own lawyer. However, bear in mind that some banks have an approved list of law firms you must use for the lender aspect of your home move.
As co-executor for the will of my father I am disposing of a residence in Neath but live in Boxmoor. My lawyer (approximately 260 kilometers from meneeds me to execute a stat dec before the transaction finalising. Could you suggest a conveyancing practitioner in Boxmoor who can attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are located in Boxmoor
We expect to complete the sale of our £200,000 garden flat in Boxmoor next week. The management company has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Boxmoor?
Boxmoor conveyancing on leasehold apartments normally necessitates the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Boxmoor Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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How many years remain on the lease? What is the yearly maintenance fee and ground rent? Please note that where the lease has less than eighty years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely require a lease extension at some point and it is worth finding out what this will be. For most Boxmoorlease extensions you would need to own the residence for two years before you are legally able to extend the lease.