I am purchasing a house without a mortgage in Hertford. I have been living for the previous twelve years in Hertford. Conveyancing searches are exorbitant. Given that I know the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a mortgage, then the vast majority of the Hertford conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches carried out, but he is duty bound to do this. Do consider; if you are going to dispose of the house in the future, it may be of interest to your prospective buyer what the searches determine. There are plenty of instances where premises with no practical issues can still show up detrimental search results. A good conveyancing solicitor in Hertford should provide you some sensible guidance in this regard.
What happens if my lawyer’s firm is removed from the Skipton Solicitor panel ahead of completing my conveyancing in Hertford?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have recentlydiscovered that Action Conveyancing have closed. They carried out my conveyancing in Hertford for a purchase of a leasehold apartment 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hertford conveyancing specialists.
I'm purchasing a new build house in Hertford with a loan from Bank of Ireland. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not to tell my lawyer about this deal as it will impact my loan with Bank of Ireland. Do I keep my lawyer in the dark?.
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 Hertford cover?
Non domestic conveyancing in Hertford covers a broad range of guidance, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am employed by a reputable estate agency in Hertford where we have experienced a number of leasehold sales put at risk due to short leases. I have received inconsistent advice from local Hertford conveyancing firms. Please can you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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 own a studio flat in Hertford, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable properties in Hertford with a long lease are worth £202,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2080
With only 56 years unexpired the likely cost is going to range between £29,500 and £34,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.