Am I correct in assuming that the fact that my conveyancer in Hertfordshire is not listed on my lender's solicitor panel that there is a problem with the quality of his conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Hertfordshire conveyancing firm and ask them why they are no longer on the approved list for your lender.
When reading online forums for a conveyancing lawyer in Hertfordshire, many comment that I must instruct a CQS kitemarked solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's biggest lenders. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Society for Licensed Conveyancers. Hertfordshire is one of the many areas in England and Wales where there are Accredited solicitors.
My wife and I are purchasing a property in Hertfordshire. It might be a silly question but how we can trust a solicitor? At some point we will need to send money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in Hertfordshire. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
As you are obtaining a mortgage with UBS your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for UBS. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to UBS where a lease fails to satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not isolated to Hertfordshire.
Planning on purchasing a house in Hertfordshire. 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 Principality 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 Hertfordshire lawyer is on the Principality conveyancing panel.
I bought my home on 1 May and my personal details are still not registered. Need I be worried? My conveyancing solicitor in Hertfordshire advises it will be formalised in a couple of weeks. Are properties in Hertfordshire particularly slow to register?
As far as conveyancing in Hertfordshire is concerned, registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can differ subject to the party submitting the application, whether it is in order and if the Land registry communicate with any 3rd persons or bodies. At present in the region of 80% of submission are completed in less than three weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the purchaser has moved in to the property therefore 'speed' is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.
I am using a search engine for the phrase on line conveyancing in Hertfordshire it brings up many solicitorsin the vicinity. With so much choice what is the best way to find the suitable solicitor for my move?
The preferential way of choosing a suitable conveyancer is through a trusted referral, so enquire of colleagues and relatives who have bought a property in Hertfordshire or a local estate agent or mortgage broker. Charges for conveyancing in Hertfordshire vary, so it's a good idea to request at least three fee estimates from varying types of property lawyers. Make sure that you clarify what costs in the quote includes.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Hertfordshire. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Hertfordshire are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are buying in Hertfordshire in which case you should be looking for a Hertfordshire conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I purchased a 2 bed flat in Hertfordshire, conveyancing having been completed 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Hertfordshire with over 90 years remaining are worth £192,000. The ground rent is £55 per annum. The lease expires on 21st October 2079
With only 54 years unexpired the likely cost is going to be between £32,300 and £37,400 plus 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 are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.