My partner and I are hoping to buy a flat in Borehamwood and are in fact using a Borehamwood conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this morning contacted us to inform me that there is now an issue as our Borehamwood solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Borehamwood lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I have given 8 weeks notice to my current landlord and have to be out of my rented apartment in Borehamwood by the end of next month. Conveyancing on my purchase is underway. Is it possible to complete in three weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to serve notice on a rental unless you have exchanged. If you have not already done so, notify to your conveyancer and urge them to they chase the other solicitors, try to a target completion date that all parties will look to achieve
Are there restrictive covenants that are commonly identified during conveyancing in Borehamwood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Borehamwood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £235,500 and found one round the corner in Borehamwood I like with amenity areas and railway links nearby, however it's only got 49 years on the lease. I can't really find anything else in Borehamwood in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Is it possible to switch solicitor as I need to appoint one who is on the Barclays conveyancing list. I was using a high street conveyancing solicitor in Borehamwood five minutes from me but she is not approved by Barclays
It would be our pleasure to help you select a conveyancing solicitor in Borehamwood on the Barclays panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Borehamwood. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Borehamwood.
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Borehamwood. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Borehamwood ?
The majority of houses in Borehamwood are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Borehamwood so you should seriously consider shopping around for a Borehamwood conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Borehamwood conveyancing firm to act on my behalf?
You certainly can. We can put you in touch with a Borehamwood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Borehamwood residence is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The remaining number of years on the lease was 71.73 years.