Our conveyancer has identified a defect with the lease for the apartment we are buying in Chalfont St Peter. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that he must check that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have Fifty Six years remaining on my lease and require a lease extension for my flat in Chalfont St Peter. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/2/2025 the requirements read as follows :
I just bought a house at auction in Chalfont St Peter. Conveyancing is needed. What happens now?
Given that you are now exchanged you will need to hire the services of a conveyancing solicitor quickly as you are facing a fast approaching deadline in which to complete the property. All auction property should have a bespoke auction set of papers. This will include most,if not all of the documents that your conveyancer requires. Where you are dealing with leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You should pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete on the date specified in the contract.
I'm the sole recipient of my late father’s estate with all property in now in my sole name, including the my former home in Chalfont St Peter. The Chalfont St Peter property was put into my name in January. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership may be treated the same way as though I had purchased the property in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view banks take of it, depend on the mortgage company as this requirement primarily exists to identify the purchase and immediately sell or the flipping of properties.
I was told two weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Chalfont St Peter is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are the number one reason for stalling in Chalfont St Peter conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Chalfont St Peter.
Can you provide any top tips for leasehold conveyancing in Chalfont St Peter from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Chalfont St Peter can be bypassed if you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives. If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay 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 will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing. A minority of Chalfont St Peter leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Chalfont St Peter leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such changes. Should you dont have the approvals in place do not contact the landlord without contacting your conveyancer in advance.
I am the proprietor of a a ground floor purpose built flat in Chalfont St Peter. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension case for a Chalfont St Peter property is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired term as at the valuation date was 71 years.
Is there an average conveyancing fee for conveyancing in Chalfont St Peter?
The average fee in 2014 for conveyancing in Chalfont St Peter was £1,395 not including SDLT and Land Registry fees.