We hired a high street lawyer for my conveyancing in Shenley yesterday. After carefully reading the official terms of business I notewe are liable for costs even if the dealdoes not proceed. Should I go with them or use an internet solicitor practice promoting no completion no charge conveyancing in Shenley?
It is usually a trade off in that if "No Completion No Fee" is advertised then the fee levels will generally be higher to neutralise the conveyances that fail to complete. Do bear in mind that such offerings rarely cover expenses such your Shenley conveyancing search costs.
The owners have rather pushy sellers who has recommended a exclusivity contract with a non-refundable deposit 10k. Is it wise to enter into such agreements?
Exclusivity contracts are agreements binding a home vendor and purchaser giving the buyer the sole right to purchase the premises for a certain period of time. For all intents and purposes, an exclusivity agreement is a contract stating that you should be issued with a contract at a later date which is the contract for the actual sale. It tends to be used for buyer protection though in many situations, the owner may enjoy an upside from such agreements as well. There are various positives and negatives to having them but you need to check with your conveyancer but beware that it may end up incurring more in conveyancing charges. In light of these reasons these contracts are rare in relation to conveyancing in Shenley.
Forgive me if this question is silly but I am new to the house moving as FTB of a two bedroom flat in Shenley. Do I receive the keys to the property on the completion date from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Shenley?
On the day of completion you will not be required to go to the conveyancers office in Shenley. Conveyancing lawyers for you will transfer the purchase money to the seller's lawyers, and once they have received this, you will be able to pick up the keys from the property Agents and move into your new home. This tends to happen early afternoon.
I have paid off my mortgage with Lloyds. I assume I don't need a Shenley conveyancing practitioner on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Shenley building society branch on a couple of occasions and was told it does not affect the mortgage offer and they would lend. My Shenley conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The conveyancing practitioner must comply with the CML Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 remaining.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Shenley is the location of the property. Can you offer any guidance?
Flying freeholds in Shenley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shenley you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shenley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My business partner and I are planning to take an assignment of a lease of an office on a shopping parade. Can you recommend solicitors offering no-sale-no fees for non-domestic conveyancing in Shenley for under £2000?
We can recommend firms who host a wealth of experience of commercial conveyancing in Shenley, including the disposal and acquisition of businesses as well as simply property. If you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can find you the right lawyer. Regarding the fees this will depend on the structure and complexity of the deal. Let us have your details or telephone so as to enable us to furnish you with a fixed commercial conveyancing quote.
I've recently bought a leasehold property in Shenley. Do I have any liability for service charges for periods before my ownership?
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. Strange as it may seem, 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 have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Shenley conveyancing firm to help?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.
An example of a Lease Extension case for a Shenley property is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The unexpired term as at the valuation date was 71.73 years.