I can't travel far from Hitchin. Is there a reason why all Hitchin conveyancers aren't included on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in mortgage companies purging less reputable firms off their panel of approved solicitors .
Can you explain why leasehold purchase conveyancing in Hitchin costs more?
In short, leasehold conveyancing in Hitchin and Hertfordshire usually involve more due diligence compared to freehold transactions. This includes checking the lease terms, liaising with the landlord about serving applicable notices, procuring current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
We are selling our house in Hitchin. Will my solicitor have to be required to be on the Co-operative conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
My father informed me that in buying a property in Hitchin there may be a number of restrictions preventing external changes to the property. Is this right?
There are a number of properties in Hitchin which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Hitchin should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the sole beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Hitchin. Conveyancing formalities meant that the Land Registry date was in April. I want to move. I understand that there is a CML 6 month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the property in April. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How sensible a view lenders take of it, depend on the bank as this obligation is primarily there to pick up on the purchase and immediately sell or the flipping of properties.
I had a mortgage agreed in principle with RBS. Hitchin conveyancing lawyers are instructed. What is the average time that one could expect to receive a mortgage offer from RBS?
Some lenders take longer than others. Have RBS conducted the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am buying a new build apartment in Hitchin. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Hitchin
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
My partner has recommend that I appoint his conveyancing solicitors in Hitchin. Do I take his recommendation?
No doubt it’s preferable to choose a conveyancing practitioner is to have feedback from friends or relatives who have used the firm that you are are thinking of instructing.