I was informed today by my lender that my Berkhamsted property lawyer is not on the mortgage company Conveyancing panel. What can I do to be sure if this is correct?
You need to call your Berkhamsted conveyancer. You lawyer should advise you what has happened. Where they are not on the panel they may recommend you to a Berkhamsted conveyancing practice that is on the conveyancing panel for your lender.
What does my ID and proof of funds have anything to do with my conveyancing in Berkhamsted? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you are required to sign should confirm this. Your lender will also require certain documents to be viewed. If you are unwilling to supply ID verification documents, your conveyancer will not be able to take you on as a client.
we are a couple who intend to purchase a newly converted apartment in Berkhamsted with a loan from Coventry Building Society.We have a Berkhamsted conveyancing lawyer but Coventry Building Society advised that he's not on their "panel". It seems we are left with no choice but to instruct a Coventry Building Society panel lawyer or retain our high street solicitor and fork out for a Coventry Building Society panel lawyer to represent them. This seems very unfair; is there anything we can do?
No, not really. The loan issued to you is subject to its terms and conditions, a common one being that solicitors will be on the Coventry Building Society approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could find 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 Coventry Building Society
My wife and I have a terraced Georgian property in Berkhamsted. Conveyancing lawyer acted for me and Birmingham Midshires. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to 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 Berkhamsted and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing solicitor who conducted the conveyancing.
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I have recently realised that I have Sixty One years remaining on my lease in Berkhamsted. I now want to extend my lease but my freeholder is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the freeholder. In some cases an enquiry agent would be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Berkhamsted.
I own a leasehold flat in Berkhamsted, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Berkhamsted with a long lease are worth £201,000. The ground rent is £45 yearly. The lease ceases on 21st October 2089
With 64 years left to run we estimate the premium for your lease extension to span between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should 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.