The Bishops Stortford conveyancing firm handling our Bishops Stortford conveyancing has uncovered a difference between the information in the home valuation report and what is revealed within the conveyancing documents. My solicitor says that he must ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications 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 you.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Bishops Stortford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bishops Stortford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bishops Stortford you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bishops Stortford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What does commercial conveyancing in Bishops Stortford cover?
Non domestic conveyancing in Bishops Stortford covers a broad array of services, provided by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am thinking of appointing a conveyancing practitioner in Bishops Stortford for my house move. Can I review a firm’s record with the legal regulator?
One can find published Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA may recorded telephone calls for training purposes.
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Bishops Stortford. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Bishops Stortford are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Bishops Stortford so you should seriously consider shopping around for a Bishops Stortford conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.
I purchased a leasehold flat in Bishops Stortford, conveyancing having been completed August 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Bishops Stortford with a long lease are worth £190,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2083
With only 62 years left to run the likely cost is going to be between £17,100 and £19,800 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
My parents are experiencing problems in finding their Bishops Stortford land registry title on the site. They have a vague recollection fifty years ago when they acquired the bungalow there were complications regarding the post code not being identified on some systems.
Nearly all residences in Bishops Stortford should be revealed. Have you endevoured to search with simply the postcode. Normally it should mention all the properties within that postcode. Assuming the property is registered it will show up with a title number. Where they bought back in the 60’s it's conceivable it may be unregistered. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title papers which may be with your parent’s bank.