We are purchasing a 3 bedroom flat in Berkhamsted with a mortgage. We like our Berkhamsted lawyer, but the lender advise he's not on their "panel". We have to appoint one of the lender panel solicitors or keep our Berkhamsted solicitor as well as pay for one of their panel lawyers to represent them. We feel that this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing 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 Berkhamsted conveyancing lawyer to apply to be on the conveyancing panel.
We note that you have a search directory identifying law firms on the Barclays conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Berkhamsted?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Berkhamsted.
My uncle passed away last year and as sole heir and executor I was left the house in Berkhamsted. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
Are all Berkhamsted Conveyancing Quality Solicitors on the Aldermore conveyancing list of approved practices?
It is true that some lenders now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
We were going to get a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Berkhamsted solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Berkhamsted solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I have a mortgage with Leeds Building Society for my property in Berkhamsted. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval in advance of renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel firm.
I have recentlydiscovered that Stirling Law have closed. They conducted my conveyancing in Berkhamsted for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Berkhamsted conveyancing specialists.
Estate agents have just been given the go-ahead to market my ground floor apartment in Berkhamsted. Conveyancing solicitors are to be appointed soon, but I have just had a quarterly service charge invoice – what should I do?
It best that you clear the maintenance contribution as you normally would given that all rents and service invoices should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I purchased a studio flat in Berkhamsted, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Berkhamsted with a long lease are worth £206,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2087
With just 66 years left to run the likely cost is going to range between £12,400 and £14,200 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 renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.