My fiance and I are hoping to acquire a home in Luton and are in fact using a Luton conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nottingham Building Society have this morning contacted us to inform me that they have now hit a problem as our Luton solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Luton solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Are you able to suggest a Norwich and Peterborough Building Society accepted Luton conveyancing firm that can complete within a very limited time frame? Would it be better to use a high street Luton conveyancer or an internet comparison site?
We can recommend some very good Luton conveyancing firms. You can also walk up the main road in Luton. Approach a couple of law practices and request to speak with a conveyancing solicitor for a fee estimate. Mention your deadline together with the reasons and ask for an assurance on your deadline. Choose the lawyer that you are most comfortable with.
At what point can the exchange of contracts happen for domestic conveyancing in Luton and am I required to be at the solicitors branch?
If you are in close proximity to our conveyancing solicitors in Luton you are invited in to sign the paperwork. However, the lender approved solicitors we work with provide countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you digitally. The signing of the sale agreement is not the point of no return. A signed contract simply enables the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Luton)to be in the office at the appropriate time.
I am buying a new build apartment in Luton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Luton
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I own a leasehold house in Luton. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Luton who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Luton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a split level flat in Luton, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Luton with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2092
With 70 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns 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 before seeking the advice of a professional.
My wife is buying a leasehold maisonette in Luton. Conveyancing quotes are coming in at around £1800. Is that in the right ballpark?
The average fee in 2014 for conveyancing in Luton was just over one thousand four hundred and fifty pounds excluding Stamp Duty and HMLR charges.