I decided to go with a Hemel Hempstead based solicitor for my conveyancing in Hemel Hempstead yesterday. Going through the Ts and Cs I seewe are on the hook for charges even where the conveyance does not complete. Would I be best advised to instruct a web based firm who offer no move no charge conveyancing in Hemel Hempstead?
It is usually a trade off in that if "No Sale No Fee" is offered then the conveyancing charges will generally be more expensive to cover the conveyances that abort. Also remember that such arrangements tend not to protect you from expenses such as Hemel Hempstead conveyancing search fees.
My Conveyancer in Hemel Hempstead is not listed on the The Royal Bank of Scotland Approved Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are excluded from the The Royal Bank of Scotland panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Hemel Hempstead lawyers but The Royal Bank of Scotland will need to retain a solicitor on their list of acceptable firms. This will inevitably rack up the total conveyancing charges as well as cause delays.
- Find a new solicitor to to deal with the conveyancing, remembering to check they are The Royal Bank of Scotland approved.
- Persuade your The Royal Bank of Scotland solicitor to seek to join the The Royal Bank of Scotland panel
We are buying a 3 bedroom semi in Hemel Hempstead. The intention is to carry out an extension to the side at the house.Will the conveyancing process include enquiries to ascertain if these alterations are permitted?
Your conveyancer should review the registered title as conveyancing in Hemel Hempstead will occasionally identify restrictions in the title deeds which restrict certain alterations or necessitated the consent of another owner. Certain additions need local authority planning permissions and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
I recently had an offer agreed on an apartment in Hemel Hempstead. My mortgage broker pressured me to appoint their solicitor. I paid an advanced payment of £200. A few days later, the property lawyer contacted me to say that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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 Hemel Hempstead solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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 solicitor 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 Hemel Hempstead postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Hemel Hempstead.
four months have elapsed following my purchase conveyancing in Hemel Hempstead took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing a new build house in Hemel Hempstead with a loan from HSBC Bank. The developers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my conveyancer about the extras as it may impact my loan with the bank. 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.
I am tempted by the attractive purchase price for a two apartments in Hemel Hempstead both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Hemel Hempstead is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hemel Hempstead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a studio flat in Hemel Hempstead, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Hemel Hempstead with an extended lease are worth £211,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2093
With only 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.