My husband and I are buying a leasehold flat in Cheshunt. My Solicitor is not on the bank approved panel. Is it possible for me to retain my Cheshunt conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
You have numerous alternatives available to you here
- Proceed with your preferred Cheshunt lawyer but your lender will no doubt use a property lawyer from their approved panel. This will result in additional charges and potential delay.
- Get a fresh property lawyer to act in the purchase, making sure they are on the lender conveyancing panel.
- Appeal to your conveyancing practitioner to attempt to join the bank panel
Can your site be used to locate a Conveyancing solicitor in Cheshunt even if I’m not buying or selling a house, for instance if I wish to acquire a shop in Cheshunt with a loan from Lloyds TSB Bank?
Our comparison service is mainly utilised to locate domestic conveyancing solicitors in Cheshunt but we have set out at the end of this page a few Cheshunt commercial conveyancing firms. You will need to speak with the firm directly to check if they are also authorised to represent Lloyds TSB Bank
My bid for a property was accepted at auction in Cheshunt. Conveyancing is needed. What is next?
Having to in every practical sense signed on the dotted line you should appoint a conveyancing solicitor soon as you will have a tight a drop dead date to complete the purchase. Every auction property should have a corresponding legal pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You must pass this on to the lawyer instructed by you at the earliest opportunity. Do make sure that you have funds organised to complete on the date specified in the contract.
Does a directory service exist listing Santander panel solicitors in Cheshunt on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of banks make their panel listings available over the internet. Where you are looking for a Cheshunt lawyer on the Santander please make the most of our facility.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Cheshunt solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Cheshunt postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Cheshunt.
I have been told that property searches are the main reason for hinderance in Cheshunt house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Cheshunt.
I opted to have a survey carried out on a property in Cheshunt before instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders tend refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cheshunt. Conveyancing will be smoother if you use a solicitor in Cheshunt especially if they are familiar with such properties in Cheshunt.
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Cheshunt. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cheshunt ?
Most houses in Cheshunt are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Cheshunt so you should seriously consider looking for a Cheshunt conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.
I purchased a split level flat in Cheshunt, conveyancing having been completed in 2002. Can you work out an approximate cost of a lease extension? Comparable flats in Cheshunt with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2105
With 80 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.