I am considering applying for a Principality mortgage for purchase of a newly converted (under development) in Luton with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I can see plenty of information on this site about conveyancing in Luton but what is your top tip for choosing the right conveyancer in Luton
It would be unwise to be tempted by the cheapest Luton conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I am assisting my aunt sell her property in Luton. Will the conveyancer commission the energy assessment or do I organise this?
Following the demise of Home Packs, EPC’s was retained a compulsory part of selling a property. An energy assessment must be commissioned in advance of the property being advertised. This is not as aspect of the sale process that solicitors normally organise. If you are instructing a Luton conveyancing lawyer they may help arrange energy assessments given their relationships with long established local energy assessors
How can we tell if a Luton conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Luton getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer carrying out your conveyancing.
I decided to have a survey carried out on a property in Luton before retaining conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some banks may refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Luton. Conveyancing may be slightly more expensive based on your lender's requirements.
How can the Landlord & Tenant Act 1954 affect my business property in Luton and how can your lawyers assist?
The particular law that you refer to affords a safeguard to business tenants, granting the dueness to apply to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Luton
Are there frequently found deficiencies that you witness in leases for Luton properties?
There is nothing unique about leasehold conveyancing in Luton. All leases are drafted differently and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
Luton Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
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Is the freehold owned collectively by the tenants? How long is the Lease?
We are looking to purchase a repression flat in Luton and the vendor would like to complete inside a month. Do solicitors complete in this timeframe? Would it be better to select a local Luton firm or an online company that advertises to complete quickly?
Attend your Luton high street. Go in to 3 firms and ask to see a conveyancing solicitor for an estimate. Discuss your needs and try and obtain a commitment on deadlines. Appoint the one that appears most genuine. Be sure to use a solicitor on the list of property lawyers who can act for your mortgage company.