Am I correct in assuming that the fact that my solicitor in Chesham Bois is not on my bank's conveyancing panel that there is a problem with the quality of her conveyancing?
That would most likely be a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Chesham Bois conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My fiance and I are hoping to buy a newbuild apartment in Chesham Bois with a mortgage from Alliance & Leicester .We would like to retain our Chesham Bois conveyancing lawyer but Alliance & Leicester informed us she’s not listed on their approved list of firms. We have to appoint a Alliance & Leicester panel solicitor or keep our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Alliance & Leicester use our lawyer?
Unfortunately,no. The home loan issued to you contains terms and conditions, one of which will be that conveyancers will be on the Alliance & Leicester conveyancing panel. Until recently, most mortgage companies had large numbers of law firms 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Alliance & Leicester
Various web forums that I have come across warn that are a common reason for stalling in Chesham Bois house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Chesham Bois.
I own a semi-detached Victorian property in Chesham Bois. Conveyancing lawyer acted for me and Leeds Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Leeds Building Society to clarify?
You should 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 Chesham Bois 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 buyers. You can also enquire as to the position with the conveyancing practitioner who conducted the conveyancing.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Chesham Bois is the location of the property. Can you shed any light on this issue?
Flying freeholds in Chesham Bois are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chesham Bois you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chesham Bois 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 property.
Can you provide any top tips for leasehold conveyancing in Chesham Bois from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Chesham Bois can be reduced where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives. In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Chesham Bois state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the approvals in place you should not contact the landlord without contacting your lawyer before hand. The majority of freeholders or Management Companies in Chesham Bois charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Chesham Bois. If you hold a share in a the Management Company, you should ensure that you have the original share document. Organising a re-issued share certificate can be a time consuming formality and slows down many a Chesham Bois conveyancing transaction. If a new share certificate is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
I own a basement flat in Chesham Bois, conveyancing having been completed in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Chesham Bois with an extended lease are worth £211,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2088
With just 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.