I have given 2 months notice to my current landlord and must vacate my rented flat in Broxbourne by 11/11/2024. Conveyancing on my purchase has just started. How realistic is it to complete in 4 weeks as I wish to avoid having to find temporary accommodation?
Generally one should not provide notice on a rental unless exchange of contracts has taken place. Assuming that you have not previously done so, speak to your lawyer and request that they apply pressure on the other lawyers, try to get a realistic time scale from them that everyone will aim towards
As someone clueless as to the Broxbourne conveyancing process what’s the number one tip you can give me for the ownership transfer in Broxbourne
You may not hear this from too many lawyers but conveyancing in Broxbourne and elsewhere in Hertfordshire is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of opportunity for confrontation between you and other parties involved in the ownership transfer. For example, the vendor, estate agent and on occasion a mortgage company. Choosing a lawyer for your conveyancing in Broxbourne is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose responsibility is to look after your legal interests and to keep you safe.
On occasion a third party with a vested interest may attempt to convince you that you should follow their advice. For instance, the selling agent may claim to be helping by suggesting your solicitor is slow. Or your mortgage broker may try to convince you to do something that is contrary to your solicitors advice. You should always trust your lawyer above all other parties in the home moving process.
What happens if my lawyer’s firm is suspended from the Nationwide Conveyancing panel ahead of completing my conveyancing in Broxbourne?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
It has been 4 months following my purchase conveyancing in Broxbourne concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Broxbourne benefiting from help to buy. The developers would not move on the price so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my solicitor about the side-deal as it will affect my mortgage with the bank. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Broxbourne is where the house is located. Can you offer any opinion?
Flying freeholds in Broxbourne are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Broxbourne you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Broxbourne may ascertain 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.