We hired a Hemel Hempstead based lawyer for my conveyancing in Hemel Hempstead today. Reviewing the Terms and Conditions it is apparent thatwe are responsible for charges even if our purchase doesn't happen. Should I ditch them and select a web based conveyancing company offering no completion no cost conveyancing in Hemel Hempstead?
It is usually a trade off in that if "No Sale No Fee" is advertised then the fee levels will tend to be be more expensive to offset the transactions that do not proceed. Also remember that these schemes generally do not cover outlay such as Hemel Hempstead conveyancing search fees.
My Solicitor in Hemel Hempstead is not on the Nationwide Building Society Solicitor Panel. Can I still use my family solicitor notwithstanding that they are excluded from the Nationwide Building Society approved list?
Your options are as follows:
- Carry on with your existing Hemel Hempstead solicitors but Nationwide Building Society will need to instruct a conveyancer on their panel. This will result in additional overall legal charges and cause frustration.
- Find a new lawyer to act in the conveyancing, remembering to check they are on the Nationwide Building Society panel
I am purchasing a terrace house in Hemel Hempstead. The intention is to carry out a loft conversion at the house.Will legal due diligence on the property involve checks to determine if these works are permitted?
Your solicitor will check the registered title as conveyancing in Hemel Hempstead will on occasion identify restrictions in the title documents which prevent categories of changes or necessitated the permission of a 3rd party. Some works call for local authority planning permissions and approval in compliance with building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
I recently had an offer agreed on a house in Hemel Hempstead. My financial adviser recommended their conveyancers. I paid an upfront payment of £200. A few days later, the conveyancer called me embarrassingly acknowledging that they were not on the Leeds Building Society 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 Leeds Building Society 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.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Hemel Hempstead solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Hemel Hempstead postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Hemel Hempstead.
It has been 2 months following my purchase conveyancing in Hemel Hempstead took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 property 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 buying my first flat in Hemel Hempstead with the aid of help to buy. The sellers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about this side-deal as it may impact my mortgage with Barclays . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am attracted to a couple of flats in Hemel Hempstead both have in the region of forty five years remaining on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Hemel Hempstead is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hemel Hempstead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a studio flat in Hemel Hempstead, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Hemel Hempstead with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2093
With 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.