We are getting a further advance on our home loan from Barclays as we intend to conduct improvements to our property in Henllys. Are we obliged to appoint a bricks and mortar Henllys solicitor on the Barclays conveyancing panel to handle the legals?
Barclays do not ordinarily instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I am due to exchange contracts on my apartment. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Santander are being a right pain. The Henllys solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander 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.
Co-operative have agreed my mortgage in principle, my bid on a house in Henllys has been accepted, what happens next?
Your estate agent will want to know who your solicitors are (be sure the conveyancers are on the lender’s panel). Contact Co-operative or the broker and finish off any appropriate forms. Co-operative will instruct a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Co-operative will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Henllys.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in Henllys? or Apparently there is an ancient law that could mean that owners of property residing in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this applicable for conveyancing in Henllys?
Unless a previous purchase of the house took place post 12 October 2013 you may take it that solicitors conducting conveyancing in Henllys to continue to suggest a chancel search and or chancel repair liability policy.
How does conveyancing in Henllys differ for new build properties?
Most buyers of new build residence in Henllys approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because builders in Henllys usually acquire 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 conveyancers 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 used to new build conveyancing in Henllys or who has acted in the same development.
I am looking for a flat up to £245,000 and found one round the corner in Henllys I like with amenity areas and station nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Henllys suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I need to find a conveyancing solicitor for purchase conveyancing in Henllys. I have land on a site which appears to be the ideal solution If it is possible to get all formalities completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold flat in Henllys. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a leasehold flat in Henllys, conveyancing was carried out in 2003. How much will my lease extension cost? Equivalent flats in Henllys with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2092
With only 67 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.