Can you point me to a directory of Nottingham panel conveyancers in Houghton Regis on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings viewable online. If you are seeking to appoint a Houghton Regis property lawyer on the Nottingham please use our facility.
We had instructed solicitors with offices in Houghton Regis on the Principality solicitor approved list. They have just billed me a supplemental charge for the legal aspects of the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. This charge is not set by Principality but by your Houghton Regis conveyancing practitioner. Plenty of firms on the Principality panel will quote ’dealing with mortgage’ fee and others do not.
After what feels like an age I have had an offer on an apartment in Houghton Regis accepted, the sellers do nevertheless have an associated purchase. The sellers have offered on a property, but it’s not been accepted yet, and have viewings of other flats booked. I have selected a high street conveyancing solicitor in Houghton Regis. What should be my next step? At what stage do I apply for the mortgage with Skipton?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then valuation, Houghton Regis conveyancing search charges, etc). First, you should ensure that your property lawyer is on the Skipton conveyancing panel. As to the next stages this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. During a hot market many buyers would apply for a home loan with Skipton and pay for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to proceed with searches.
A relative suggested that if I am purchasing in Houghton Regis I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Houghton Regis conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Houghton Regis around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Houghton Regis Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Houghton Regis.
Due to the advice of my in-laws I had a survey completed on a property in Houghton Regis prior to retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some banks may refuse to give a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Houghton Regis. Conveyancing will be smoother if you use a solicitor in Houghton Regis especially if they are accustomed to such properties in Houghton Regis.
I need to find a conveyancing solicitor for my conveyancing in Houghton Regis. I've chance upon a site which looks to be the ideal solution If there is a chance to get all the legals done via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am employed by a reputable estate agency in Houghton Regis where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Houghton Regis conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 bought a 2 bed flat in Houghton Regis, conveyancing formalities finalised in 2006. Can you work out an approximate cost of a lease extension? Comparable properties in Houghton Regis with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ceases on 21st October 2081
With only 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
Me and my wife are selling a Houghton Regis bungalow we inherited some years ago in 2012. I have over ten years conveyancing experience and, although retired, intend to conduct my own legal work. The buyer's conveyancer has informed me that their building society will not allow us to do our own conveyancing insisting the funds to be passed via a solicitor's bank account.
Mortgage instructions to property lawyers from all mainstream lenders specify that If the seller does not have legal representation the purchaser’s lawyers should check whether the mortgage company needs to be informed so that a decision can be made as to whether they are willing to proceed.