My Abbots Langley lawyer has discovered an inconsistency when comparing the assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am assisting my niece sell her property in Abbots Langley. Does the conveyancer arrange an energy performance certificate or it is for the owner to coordinate?
After the demise of Home Information Packs, energy assessments was left as a compulsory part of moving house. An energy assessment needs to be commissioned in advance of the property being placed on the market. It is not something that solicitors normally arrange. If you are using a Abbots Langley conveyancing lawyer they might be willing to arrange energy performance certificates due to their relationships with long established local providers
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Abbots Langley. Do I receive the keys to the property on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Abbots Langley?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you will be invited to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Abbots Langley solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Abbots Langley postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Abbots Langley.
I own a renovated Victorian property in Abbots Langley. Conveyancing lawyer represented me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You should assess 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 Abbots Langley and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing solicitor who completed the work.
I'm purchasing a new build house in Abbots Langley with a mortgage from Nottingham Building Society. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my lawyer about this deal as it may impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I best advised to instruct a Abbots Langley conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can perform the legal work however her office is a couple of hundredkilometers drive away.
The primary upside of using a high street Abbots Langley conveyancing firm is that you can drop in to sign paperwork, hand in your ID and pester them where appropriate. Having local Abbots Langley know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that must outweigh using an unfamiliar Abbots Langley conveyancing solicitor solely due to them being round the corner.
Can you provide any advice for leasehold conveyancing in Abbots Langley with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Abbots Langley can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ conveyancers. The majority of freeholders or Management Companies in Abbots Langley levy fees for supplying management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Abbots Langley. If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a duplicate share certificate can be a time consuming process and frustrates many a Abbots Langley home move. Where a new share certificate is required, do contact the company officers or managing agents (where applicable) for this as soon as possible. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Abbots Langley state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. If you fail to have the paperwork in place do not contact the landlord without checking with your conveyancer before hand.
I invested in buying a ground floor flat in Abbots Langley, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Abbots Langley with an extended lease are worth £260,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2096
With just 74 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures 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. You should not move forward placing reliance on this information before seeking the advice of a professional.