Can you help? My Hartfield solicitor is advising me that she is duty bound toconduct Hartfield conveyancing searches becausethe firm are on the Santandersolicitor panel. Is my lawyer right?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Hartfield conveyancing searches.
We are buying a apartment in Hartfield. It might be a silly question but how we can trust a conveyancer? On completion day we have to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, RBS are being a right pain. The Hartfield solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have finally had an offer on an apartment in Hartfield agreed to, the sellers do however have a connected purchase. The vendors have offered on somewhere, however it’s not yet agreed to, and are looking at other properties booked. I have instructed a nearby conveyancing solicitor in Hartfield. What should be my next step? At what stage should I apply for the mortgage with Leeds Building Society?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Hartfield conveyancing search charges, etc). The first course of action is to ensure that your lawyer is on the Leeds Building Society approved list. As to the subsequent phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. In a buoyant market some buyers will apply for the mortgage with Leeds Building Society and pay for the valuation and only if it was satisfactory would they request their lawyer to press on with searches.
I'm purchasing a new build house in Hartfield with a loan from Bank of Ireland. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my solicitor about the deal as it could adversely affect my mortgage with the lender. Should I keep quiet?.
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 property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Hartfield is where the house is located. Can you offer any guidance?
Flying freeholds in Hartfield 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 Hartfield 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 Hartfield 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.
I am tempted by the attractive purchase price for a couple of apartments in Hartfield both have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area.
I invested in buying a ground floor flat in Hartfield, conveyancing was carried out in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Hartfield with over 90 years remaining are worth £222,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2091
With 70 years left to run the likely cost is going to range between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
We are in the process of purchasing a apartment in Hartfield. Conveyancing is not yet done but we would like have the amount we are are buying for a secret from sites such as Zoopla. How can this be done?
HMLR by statute are bound to specify price paid data on a register of the title for residential properties countrywide which includes homes in Hartfield. The register of title is an open document, so the Land Registry would be breaking the law excluded certain homes such as the one in Hartfield.
You can ask the Land Registry to hide the amount paid data however the answer will be in the negative.