Is there a search tool that I can utilise to find out if the solicitor carrying out my conveyancing in Hoddesdon is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Platform Home Loans Ltd thus paying £187.00 plus VAT in additional legal costs.
You should make use of the search tool on this page. Please choose the mortgage company and type ‘Hoddesdon’ or your location and you will be presented with numerous solicitors located in Hoddesdon or near you.
Can you help - my lawyer advises that missing deeds insurance is needed on my purchase. What is the level of cover for Hoddesdon conveyancing?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I happen to be the single beneficiary of my late grandmother’s will and I have everything in my name now, including the house in Hoddesdon. The Hoddesdon property was put into my name in May. I want to move. I do know about the CML six month 'rule', which means that my proprietorship may be regarded the same way as if I'd bought the house in May. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How practical a view mortgage companies take of it, depend on the lender as this requirement primarily exists to identify subsales or the flipping of properties.
I can not work out if my mortgage offer requires a lease extension. I have called into my local Hoddesdon building society branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Hoddesdon conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the solicitor is on the bank panel, they must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My partner and I are close to exchanging contracts on the sale of our property in Hoddesdon and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Hoddesdon lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Hoddesdon. We have lived in Hoddesdon for 5 years we know of no issue. Should we contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hoddesdon?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hoddesdon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Hoddesdon differ for newly converted properties?
Most buyers of new build premises in Hoddesdon contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Hoddesdon typically buy the land, 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.
Should I use a Hoddesdon conveyancing lawyer who is local to the property I am buying? We have a good friend who can deal with the legal formalities but his firm is located 300miles away.
The primary upside of using a high street Hoddesdon conveyancing firm is that you can pop in to execute documents, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were happy that should trump using an unfamiliar Hoddesdon conveyancing lawyer just because they are round the corner.