We are selling our flat in Hadley Wood. Will the property lawyer need to be on the Nationwide conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
I am being advised by my solicitor that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Hadley Wood?
The right level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such policies.
I recently had an offer agreed on an apartment in Hadley Wood. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Co-operative have agreed my home loan in principle, my bid on a property in Hadley Wood has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (make sure the lawyers are on the lender’s approved list). Contact Co-operative or your broker and complete any appropriate paperwork. Co-operative will instruct a valuer who will get in contact with the estate agent or vendor to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Co-operative will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hadley Wood.
I have todaybeen informed that Wolstenholmes have closed. They carried out my conveyancing in Hadley Wood for a purchase of a freehold house 10 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the premises is in your name, you can carry out 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 Hadley Wood conveyancing specialists.
How does conveyancing in Hadley Wood differ for new build properties?
Most buyers of new build residence in Hadley Wood contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Hadley Wood tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hadley Wood or who has acted in the same development.
I have been recommended by numerous selling agents in Hadley Wood to get a quote from a conveyancer on your site. What’s the financial incentive for Estate Agents to offer your services ahead of another?
We refuse to offer any referral fee for directing people to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
What advice can you give us when it comes to choosing a Hadley Wood conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Hadley Wood conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Hadley Wood conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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What are the costs for lease extension work? How experienced is the firm with lease extension legislation?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hadley Wood conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension case for a Hadley Wood property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired term as at the valuation date was 76 years.