I am obtaining a mortgage with Lloyds. I intend to employ the services of a Licensed Conveyancer in Hertfordshire. Does the Lloyds Conveyancing panel include conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Can your site be used to recommend a Conveyancing solicitor in Hertfordshire even where I’m not purchasing or selling a house, for example if I wish to acquire an office in Hertfordshire with a mortgage from Aldermore?
Our comparison service is mainly used to locate domestic conveyancing solicitors in Hertfordshire but we have set out towards the end of this page a selection of Hertfordshire commercial conveyancing firms. You will need to enquire with the firm directly to check if they are also authorised to represent Aldermore
My husband and I decided to purchase a purpose built apartment in Hertfordshire with a loan from Britannia.We like our Hertfordshire conveyancing practitioner but Britannia says his firm is not listed on their "panel". We have to appoint a Britannia panel solicitor or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Britannia use our lawyer?
Unfortunately,no. The home loan issued to you is subject to its various provisions, a common one being that conveyancers must be on the Britannia approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Britannia
How does conveyancing in Hertfordshire differ for new build properties?
Most buyers of new build premises in Hertfordshire come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Hertfordshire tend to acquire the land, 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.
I am intending to sublet my leasehold flat in Hertfordshire. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Hertfordshire do not contain subletting altogether – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I acquired a studio flat in Hertfordshire, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Hertfordshire with a long lease are worth £265,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2101
With 76 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
One month into purchasing a house in Hertfordshire. Conveyancing lawyer has phoned to say the title is "Leasehold". Will this likely adversely affect the marketability of the property?
Hertfordshire conveyancing does not in most situations involve leasehold houses. The key consideration here is the remaining lease term and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it shouldn't impact the saleability significantly.
At the other extreme, if it's, say, 50 years it is bound to have a significant effect on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be set out in the lease provided to your conveyancing practitioner.