I am need of leasehold conveyancing for an apartment in a relatively new development (6 years built) in Hathern. The vast majority the properties have already been disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in Hathern?
A big part of the Hathern conveyancing process is the conveyancing searches. There are numerous companies conducting Hathern conveyancing searches, as well direct from the local authority. These are generally termed personal search providers and they produce, not surprisingly, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authoritative source.
I am the sole beneficiary of my late mum's estate and I have everything in my name now, including the my former home in Hathern. The Hathern property was put into my name in January. I plan to dispose of the property. I do know about the CML six month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How sensible a view banks take of it, depend on the bank as this requirement is chiefly there to pick up on the purchase and immediately sell or the quick reselling of properties.
Is it the case that all Hathern CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
About to purchase apartment in Hathern. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Hathern solicitor is on the Virgin Money conveyancing panel.
I used Action Conveyancing a few years past for my conveyancing in Hathern. I now require my papers however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Hathern 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.
I am buying a new build house in Hathern with the aid of help to buy. The sellers refused to budge the price so I negotiated 6k of additionals instead. The sale representative advised me not inform my solicitor about this deal as it may impact my mortgage with Nationwide Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Hathern cover?
Commercial conveyancing in Hathern covers a wide range of guidance, provided by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I am tempted by the attractive purchase price for a couple of maisonettes in Hathern which have in the region of fifty years remaining on the leases. Will this present a problem?
There are plenty of short leases in Hathern. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
I bought a 2 bed flat in Hathern, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Hathern with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2100
With just 74 years unexpired the likely cost is going to span between £8,600 and £9,800 plus legals.
The suggested premium range that we have given is 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 this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.