I am progressing with the sale of my house in Cheshunt and the EA has just called to warn that the purchasers are switching law firm. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their approved list. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to select to handle their conveyancing in Cheshunt ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
My conveyancer has uncovered a a problem with the lease for the property we are purchasing in Cheshunt. The other side have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions have to be complied with.
I used Arc property Solicitors a few years past for my conveyancing in Cheshunt. Now, I need my files but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 Cheshunt of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Just had an offer accepted on a new build apartment in Cheshunt. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Cheshunt
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Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I'm refinancing my current house to a buy to let loan with Virgin Money and intend to use the remaining equity towards another house. The area we are talking about is Cheshunt. Will your solicitors be able to act for both sets of banks and link together the conveyances?
Do use our search tool on this page to be sure that the lawyers are on the relevant lender panels. On the basis that they are your lawyer will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and communicate your expectations and requirements.
Back In 2001, I bought a leasehold house in Cheshunt. Conveyancing and Halifax mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Cheshunt who acted for me is not around. What should I do?
First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Cheshunt conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Cheshunt Leasehold Conveyancing - Sample of Queries before buying
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The answer will be helpful as a) areas could cause problems in the building as the communal areas may start to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have full disclosure The majority of Cheshunt leasehold flats will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the landlord. If you buy the property you will have to meet this charge, normally in instalments throughout the year. This could vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a rentcharge for you to pay annual, ordinarily this is not a significant amount, say about £25-£75 but you need to enquire as on occasion it can be many hundreds of pounds. How much is the service charge and ground rent on the apartment?