It is 10 years ago since I purchased my property in Luton. Conveyancing lawyers have recently been retained on the sale but I can't find the title deeds. Will this cause complications?
Don’t worry too much. First the deeds may be kept by your lender or they could be in the possession of the conveyancers who acted in your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Nearly all conveyancing in Luton relates to registered property but in the rare situation where your home is unregistered it is more tricky but is resolvable.
My conveyancer has informed me that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Luton?
The appropriate level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and The Mortgage Works. Conveyancing lawyers as opposed to borrowers take out such policies.
We have agreed to purchase a house in Luton. An unusual aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Coventry BS your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Coventry BS where a lease does not satisfy these conditions. The requirements relate to the installation of panels on properties countrywide and is not restricted to Luton.
I have a mortgage with Lloyds for my property in Luton. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
Lloyds must be informed of your intention in advance of letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. You need not do this via a Lloyds conveyancing panel solicitor.
My company is planning to take over a lease of a shop on a shopping parade. Can you recommend solicitors offering fixed fees for commercial conveyancing in Luton for less than £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Luton, including the disposal and acquisition of businesses as well as simply premises. If you are intending to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we will find you the right solicitor. Regarding the fees these will vary based on the structure and terms of the deal. Please provide us with your contact information or email so as to enable us to furnish you with comprehensive commercial conveyancing calculation.
I am thinking of appointing a conveyancing solicitor in Luton for my purchase. Is it possible to check a solicitor's record with the profession’s regulator?
One may review published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded call for training requirements.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Luton. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Luton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Luton in which case you should be shopping around for a Luton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
I bought a studio flat in Luton, conveyancing having been completed August 2011. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Luton with an extended lease are worth £175,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2083
With just 58 years left to run we estimate the price of your lease extension to range between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
Do I need to have a meeting at the offices of the lender conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Luton as it will be easier to attend their offices if required.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Luton.