I require conveyancing for a flat in a relatively new development (6 years old) in Hertfordshire. The vast majority the flats are already sold. Do I need carry out the local searches as part of conveyancing in Hertfordshire?
Where you are obtaining a mortgage, your bank will need some (many) of the searches so you'll have no choice. If not, then Hertfordshire conveyancing searches are for you to decide upon. Your lawyer, will 'advise', perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or you may need to find a new lawyer for your conveyancing in Hertfordshire.
Is it the case that all Hertfordshire solicitors on the Nationwide conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Nationwide approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.
I am due to exchange contracts on my house. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Principality are being a right pain. The Hertfordshire solicitor who is on the Principality conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what seems like an age I have had an offer on a maisonette in Hertfordshire accepted, the vendors do nevertheless have a connected purchase. The sellers have offered on a property, however it’s not yet tied up, and are looking at other flats in the pipeline. I have chosen a local conveyancing solicitor in Hertfordshire. What do I do now? At what point do I apply for the mortgage with Principality?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx £1k, then survey, Hertfordshire conveyancing search fees, etc). First, you should ensure that your property lawyer is on the Principality conveyancing panel. As to the next steps this very much depends on the circumstances of your transaction, motivation for this property and on the state of the market. In a rising market some purchasers will apply for a home loan with Principality and pay for the valuation and only if it was satisfactory would they ask their property lawyer to proceed with the conveyancing in Hertfordshire.
Should my conveyancer be making enquiries about flooding during the conveyancing in Hertfordshire.
Flooding is a growing risk for conveyancers dealing with homes in Hertfordshire. Some people will buy a property in Hertfordshire, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, but there are a number of checks that can be undertaken by the buyer or by their conveyancers which will give them a better appreciation of the risks in Hertfordshire. The conventional set of information sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to determine if the premises has ever been flooded. In the event that the premises has been flooded in past and is not notified by the vendor, then a buyer could bring a claim for damages as a result of such an misleading answer. The purchaser’s solicitors may also carry out an environmental search. This will indicate if there is a recorded flood risk. If so, additional inquiries will need to be conducted.
I'm purchasing a new build house in Hertfordshire with a mortgage from Clydesdale. The developers would not reduce the amount so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my lawyer about this deal as it will adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance 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 opted to have a survey carried out on a house in Hertfordshire prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some lenders may not give a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hertfordshire. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hertfordshire to see if the conveyancing will be more expensive.
I've recently bought a leasehold property in Hertfordshire. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a leasehold flat in Hertfordshire, conveyancing formalities finalised 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Hertfordshire with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2080
You have 54 years remaining on your lease the likely cost is going to range between £32,300 and £37,400 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.