My wife and I are looking to acquire a house in Stevenage and are in fact using a Stevenage conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Britannia have this afternoon contacted us to inform me that they have now hit a problem as our Stevenage lawyer is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 Accreditation Scheme. Your property lawyer should contact your lender 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 lender’s conveyancing panel and you may continue to use your own Stevenage solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We are buying a property and require a conveyancing solicitor in Stevenage who is on the Kent Reliance approved panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Kent Reliance . We don't recommend any particular firms conducting conveyancing in Stevenage.
Will our conveyancer be asking questions about flooding during the conveyancing in Stevenage.
The risk of flooding is if increasing concern for lawyers dealing with homes in Stevenage. Some people will acquire a house in Stevenage, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of checks that may be initiated by the purchaser or by their lawyers which can figure out the risks in Stevenage. The standard completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to find out whether the premises has ever been flooded. In the event that flooding has previously occurred and is not disclosed by the vendor, then a buyer may issue a legal claim for losses stemming from an incorrect reply. The purchaser’s conveyancers may also order an enviro report. This will disclose if there is any known flood risk. If so, more detailed investigations should be made.
I'm purchasing a new build house in Stevenage benefiting from help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not reveal to my solicitor about the deal as it may jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I right to be wary about brokers that I am dealing with are recommending an internet conveyancing firm rather than a High Street Stevenage conveyancing company?
As with many service providers, often referrals from relatives can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may put forward lawyers to appoint. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the right to appoint your own lawyer. However, bear in mind that many mortgage providers specify a panel list of solicitors you must use for the mortgage aspect of your transaction.
I own a leasehold house in Stevenage. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Stevenage who previously acted has now retired. Do I pay?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Stevenage conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a 1 bedroom flat in Stevenage, conveyancing formalities finalised in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Stevenage with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2103
With only 79 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as costs.
The figure above 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 comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.