My conveyancer has identified a a legal deficiency with the lease for the flat we are purchasing in Houghton Regis. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that he must check that the bank is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Houghton Regis so that I can attend their offices if required.
These days approved lawyers for banks carry out the vast majority of work through the post, internet or over the phone. This enables them to conduct the legal work for your home move regardless of where you live in the country. Nevertheless you should see if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
I'm the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Houghton Regis. The Houghton Regis property was put into my name in February. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the house in February. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How sensible a view banks take of it, depend on the lender as this requirement is primarily there to identify subsales or the wholesaling and assigning of property.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Houghton Regis property lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Lloyds are being a right pain. The Houghton Regis solicitor who is on the Lloyds conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds 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.
Taking into account that I am about to part with over three hundred thousand on a house in Houghton Regis I would like to have a conversation with the lawyer concerning thehome move ahead of instructing the firm. Is this something that you can arrange?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you liaising with the conveyancer due to be doing your conveyancing in Houghton Regis.There is no ‘factory style conveyancing’ - every client is an important individual, not a file number. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Houghton Regis should be the amount on the final invoice that you are charged.
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Houghton Regis. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Houghton Regis are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Houghton Regis in which case you should be shopping around for a Houghton Regis conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should report to you on the legal implications.
I am the registered owner of a 2 bed flat in Houghton Regis, conveyancing was carried out in 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Houghton Regis with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease terminates on 21st October 2081
You have 56 years unexpired the likely cost is going to be between £29,500 and £34,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to 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.
My estate agent has suggested using their property lawyer for the conveyancing in Houghton Regis - Is it not simpler easier to just use them?
This is not necessarily the case and you are free to instruct whichever solicitor of your choosing for your Houghton Regis home move. A conveyancer put forward by an estate agent may not necessarily be the right conveyancer, they may suggest their own conveyancing firm who are based far away. In this instance you may not have contact with your property lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.