Do banks and building societies provide you with an approved list of Hertfordshire conveyancing solicitors? How do you know who is on the Kent Reliance conveyancing panel?
Hertfordshire conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
Me and my brother own a semi-detached Georgian property in Hertfordshire. Conveyancing practitioner represented me and National Westminster Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the exact same property. Is it worth asking National Westminster Bank to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hertfordshire and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who carried out the work.
How does conveyancing in Hertfordshire differ for new build properties?
Most buyers of new build or newly converted property in Hertfordshire come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Hertfordshire typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hertfordshire or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Hertfordshire I like with a park and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Hertfordshire for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I have been sourcing a conveyancing practitioner in Hertfordshire for my sale. Is it possible to check a firm’s record with the profession’s regulator?
One may review documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA could monitor call for training requirements.
I dont have enough spare cash to pay a 10% deposit on my flat purchase in Hertfordshire , but I am anxious exchange. What can I do?
One option is to try and agree a lower deposit. Most property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment