Me and my partner are planning to purchase a 1 bedroom apartment in Houghton Regis with a mortgage. We like our Houghton Regis lawyer, however the bank says he's not on their "panel". It seems we have no choice but to select one of the lender panel solicitors or retain our Houghton Regis property lawyer and pay for one of their panel ones to represent them. We consider that this is unjust; are we not able to require that the mortgage company use our Houghton Regis lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Houghton Regis conveyancing lawyer to apply to be on the conveyancing panel.
We are planning to acquire a house and need a conveyancing solicitor in Houghton Regis who is on the Virgin Money approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Houghton Regis.
My lawyer in Houghton Regis is not listed on the Norwich and Peterborough Building Society Conveyancing Panel. Can I still retain my family solicitor notwithstanding that they are not on the Norwich and Peterborough Building Society approved list?
The limited options available to you here include:
- Carry on with your preferred Houghton Regis lawyers but Norwich and Peterborough Building Society will need to retain a conveyancer on their list of acceptable firms. This will result in additional overall legal fees as well as cause frustration.
- Choose a new solicitor to to deal with the purchase, obviously checking they are Persuade your solicitor to use their best endeavours to join the Norwich and Peterborough Building Society conveyancing panel
Me and my partner are buying a flat in Houghton Regis. It might be a silly question but how we can trust a solicitor? At some point we have to send our life savings into their account. What is the protection we have from them run away with our deposit?
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.
I am expecting a DIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Houghton Regis solicitors on the Bank of Ireland conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Houghton Regis solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I have finally had an offer on a flat in Houghton Regis agreed to, the owners do nevertheless have a connected purchase. The vendors have put an offer on somewhere, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have selected a nearby conveyancing solicitor in Houghton Regis. What should be my next step? At what stage do I apply for the mortgage with Yorkshire BS?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then survey, Houghton Regis conveyancing search charges, etc). First, you should check that your property lawyer is on the Yorkshire BS conveyancing panel. As to the next stages this very much dictated by the specifics of your case, attraction to this property and on the state of the market. During a rising market the majority of purchasers would apply for the mortgage with Yorkshire BS and arrange for the valuation and only if it comes back ok would they pay their lawyer to press on with searches.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Houghton Regis is the location of the property. Is there any advice you can impart?
Flying freeholds in Houghton Regis are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Houghton Regis you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Houghton Regis may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
There are only 62 years remaining on my lease in Houghton Regis. I am keen to extend my lease but my landlord is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent would be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Houghton Regis.
I invested in buying a basement flat in Houghton Regis, conveyancing having been completed 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Houghton Regis with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2101
With 76 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. 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. You should not take any other action based on this information without first seeking the advice of a professional.