Is the fact that my solicitor in St Albans is not listed on my lender's conveyancing panel that there is a problem with the standard of her conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the St Albans conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I purchased a freehold residence in St Albans but still pay rent, why is this and what is this?
It’s unusual for properties in St Albans and has limited impact for conveyancing in St Albans but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I am assisting my sister sell her property in St Albans. Will the conveyancing solicitor order the EPC or it is for me to see to?
After the demise of HIPs, energy performance certificates became a required part of moving property. An energy assessment needs to be to hand prior to the property being advertised. This is not something that conveyancers normally arrange. If you are using a St Albans conveyancing lawyer they may be willing to arrange EPC’s due to their relationships with long established St Albans providers
We are getting the release of further funds on our mortgage from Skipton as we wish to carry out a loft conversion to our property in St Albans. Do we need to appoint a high street St Albans solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton would not normally instruct a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton conveyancing panel.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my St Albans bank branch on a couple of occasions and was told they are content with the situation and they will lend. My St Albans conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the solicitor is on the mortgage company approved list, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 element on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. St Albans is the location of the property. Can you offer any opinion?
Flying freeholds in St Albans are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Albans you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Albans may decide 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 property.
I have just started marketing my basement flat in St Albans. Conveyancing lawyers have not yet been instructed, but I have just had a yearly service charge invoice – what should I do?
It best that you pay the invoice as you normally would because all rents and service payments should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a 2 bed flat in St Albans, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in St Albans with an extended lease are worth £260,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2098
With 74 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
If instructed can a conveyancer remove a name from the title of my property in St Albans ?
Extracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a conveyancing practitioner to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a lawyer