The owners of the house we are hoping to buy have appointed a conveyancing practitioner in Wheathampstead who has suggested a preliminary contract with a down payment of 5k. Is it wise to enter into such agreements?
Exclusivity contracts are agreements between a property seller and purchaser giving the buyer the sole right to the sale of the premises for a limited period of time. For all intents and purposes, a lock out agreement is a contract stating that you should be issued with a contract at a later date being the contract for the actual sale. It tends to be used for buyer assurance though in some cases, the owner may enjoy an upside from such agreements as well. There are many positives and negatives to using an agreement but you need to check with your lawyer but note that it may result in incurring extra in conveyancing charges. In light of these reasons these agreements are avoided when it comes to conveyancing in Wheathampstead.
It is 10 years ago since I purchased my house in Wheathampstead. Conveyancing solicitors have recently been appointed on the sale but I can't locate the deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a chance that the deeds will be with the lender or they may still be with the solicitor who handled your purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Wheathampstead involves registered property but in the rare situation where your home is unregistered it is more of a problem but is resolvable.
My husband and I are purchasing a newly converted apartment in Wheathampstead with a residential mortgage from Norwich and Peterborough Building Society.We use our Wheathampstead conveyancing solicitor but Norwich and Peterborough Building Society informed us her practice is not listed on their approved list of firms. we are left little option but to use a Norwich and Peterborough Building Society panel lawyer or keep our preferred solicitor and fork out for a Norwich and Peterborough Building Society panel lawyer to act for them. This seems very unfair; Can we not simply insist that Norwich and Peterborough Building Society use our lawyer?
No, not really. The loan issued to you contains various provisions, one of which will be that lawyers must be on the Norwich and Peterborough Building Society solicitor 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Norwich and Peterborough Building Society
I am due to move property in August. Will my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you put forward a removal company in Wheathampstead. Conveyancing firm was found before I stumbled across your website.
On the afternoon of completion you can pick up the keys from the selling agent but this can only be done after the sellers solicitors advise the agent that they have the completion monies and the keys can be handed over. Subsequently you will need to advise the removal company that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can help you find a conveyancing in Wheathampstead or a legal practice with expertise in conveyancing in Wheathampstead.
Can I be sure that the Wheathampstead conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Wheathampstead obtaining recommendations is a sensible starting point. 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 advertising the lowest fees. We would always advocate that you speak with the solicitor carrying out your conveyancing.
I was told three weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Wheathampstead is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I purchased a semi-detached Victorian property in Wheathampstead. Conveyancing practitioner acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Clydesdale to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wheathampstead and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the purchase.
I work for a busy estate agent office in Wheathampstead where we see a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Wheathampstead conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a split level flat in Wheathampstead, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Wheathampstead with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2106
With just 80 years unexpired we estimate the price of your lease extension to be between £7,600 and £8,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.