I have just been advised by my IFA that my Hoddesdon the law firm I have appointed is not on the mortgage company Solicitor panel. How can I check?
You need to call your Hoddesdon conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they may recommend you to a Hoddesdon conveyancing firm that is on the conveyancing panel for your mortgage company.
The owners have very pushy vendors who has recommended a lock out agreement with a non-refundable deposit of 5k. Are such contracts appropriate for Hoddesdon conveyancing transactions?
There are two main concerns with executing a lock out agreement (also termed an exclusivity agreement) is that it diverts attention away from moving forward with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it may turn out to be unhelpful. It is not particularly popular amongst Hoddesdon conveyancing practitioners for this reason. A further concern is the extent of the remedies available - an aggrieved buyer should not expect to secure an injunction to stop the vendor selling to another buyer, so the only remedy available under the contract will be the reimbursement of abortive costs and, in restricted scenarios, the extra payment of penalties.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would much rather instruct a Hoddesdon based conveyancing firm?
Do check but the chances are that appoint one of their panel solicitors if you accept the "fee-free" deal. Call the mortgage company to ask if they make available a cash alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Hoddesdon.
I need some expedited conveyancing in Hoddesdon as I am under an ultimatum to exchange contracts within one month. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not taking a home loan you have the choice not to have searches carried out although no lawyer would suggest that you don't. With plenty of history conveyancing in Hoddesdon the following are instances of what can arise and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
How does conveyancing in Hoddesdon differ for new build properties?
Most buyers of new build property in Hoddesdon approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Hoddesdon tend to purchase 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 accustomed to new build conveyancing in Hoddesdon or who has acted in the same development.
My wife and I purchased a leasehold house in Hoddesdon. Conveyancing and Barclays mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Hoddesdon who acted for me is not around. Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Hoddesdon conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a studio flat in Hoddesdon, conveyancing having been completed in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Hoddesdon with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2079
With just 59 years left to run the likely cost is going to range between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" 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 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 issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.