My husband and I are hoping to purchase a flat in Histon and have instructed a Histon conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. HSBC Bank have this afternoon contacted us to advise us that there is now an issue as our Histon solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Histon lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I have justfound out that Action Conveyancing have closed. They carried out my conveyancing in Histon for a purchase of a leasehold flat 12 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest method to see if the property 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 Histon conveyancing specialists.
I opted to have a survey carried out on a property in Histon before retaining solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some banks tend not issue a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Histon. Conveyancing will be smoother if you use a solicitor in Histon especially if they regularly deal with such properties in Histon.
My business partner and I are wishing to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed charges for commercial conveyancing in Histon for less than £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Histon, including the disposal and purchase of businesses as well as simply property. If you are looking to buy or sell a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right firm. As for the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your contact information or email so as to enable us to provide you with a detailed commercial conveyancing calculation.
Back In 2008, I bought a leasehold house in Histon. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Histon who acted for me is not around. What should I do?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Histon conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a split level flat in Histon, conveyancing was carried out in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Histon with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2086
With just 60 years unexpired the likely cost is going to range between £20,000 and £23,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Is there an average legal costs for conveyancing in Histon?
The average fee last year for conveyancing in Histon was just over one thousand four hundred and fifty pounds excluding Stamp Duty and HMLR fees.