I am getting a offer of a home loan from Halifax. My intention is to retain the legal services of a Licensed Conveyancer in Eaton Bray. Does the Halifax Conveyancing panel allow for Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Can you help? My Eaton Bray conveyancer is assuring me that he has toconduct Eaton Bray conveyancing searches becausethe firm are on the Nat Westsolicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Eaton Bray conveyancing searches.
I am the registered owner of a freehold residence in Eaton Bray but still pay rent, why is this and what is this?
It is rare for properties in Eaton Bray and has limited impact for conveyancing in Eaton Bray 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am helping my mother sell her house in Eaton Bray. Does the conveyancing solicitor commission the energy assessment or it is for the owner to coordinate?
Following the abolition of HIPs, EPC’s was kept a required part of selling a property. An EPC should be to hand prior to the property being advertised. This is not something that solicitors normally arrange. If you are instructing a Eaton Bray conveyancing practitioner they may be willing to arrange energy assessments given their relationships with reputable local accredited person
Have just purchased a repossessed house at auction in Eaton Bray. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you now have to retain a conveyancing solicitor as a matter of priority as you will have a pending a drop dead date to complete the purchase. An auction property should have a bespoke legal set of papers. This should include most,if not all of the documents that your solicitor will need. In the case of leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You should hand this to the lawyer instructed by you at the earliest opportunity. You also need to ensure that you have funds in place to complete on the on the contractual date .
When it comes to mortgage companies such as Virgin Money, do Eaton Bray conveyancers incur a fee to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
My husband and I are a couple of weeks into a leasehold purchase having been directed to a firm by the local agent to do our conveyancing in Eaton Bray. I am am starting to be disappointed with the level of service. Could you help me find new lawyers?
They would need to be very poor in order to consider changing them. Has your loan offer been issued? In the event that it has you will need to inform them of the new solicitor and have the mortgage documents are re-issued. Your new conveyancer needs to be on the mortgage company panel to avoid supplemental expenses and complications. That should be your first question of the new conveyancers. The find a solicitor tool will assist you in finding a lender approved lawyer for your conveyancing in Eaton Bray
I am a negotiator for a reputable estate agent office in Eaton Bray where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Eaton Bray conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a studio flat in Eaton Bray, conveyancing formalities finalised in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Eaton Bray with over 90 years remaining are worth £190,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2086
With 61 years unexpired we estimate the price of your lease extension to range between £19,000 and £22,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.