I have just been advised by my financial adviser that my Bishops Stortford property lawyer is not on the mortgage company Solicitor panel. How can I check?

You need to contact your Bishops Stortford lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a Bishops Stortford conveyancing practice that is on the conveyancing panel for your bank.

Will lawyers ask for an advanced payment for my conveyancing in Bishops Stortford?

If you are buying a property in Bishops Stortford your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the total price then this should be required shortly ahead of exchange of contracts. Any further balance that is due will be payable shortly before completion.

How does conveyancing in Bishops Stortford differ for newly converted properties?

Most buyers of new build residence in Bishops Stortford come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because builders in Bishops Stortford typically buy the site, 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 property lawyers 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 Bishops Stortford or who has acted in the same development.

Due to the input of my in-laws I had a survey completed on a property in Bishops Stortford prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some lenders tend refuse to grant a loan on this type of house.

It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bishops Stortford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bishops Stortford to see if the conveyancing costs will increase in light of this.

All being well we will complete the sale of our £125,000 flat in Bishops Stortford in just under a week. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bishops Stortford?

Bishops Stortford conveyancing on leasehold maisonettes normally requires the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to do so. They may charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

Bishops Stortford Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying

Be sure to enquire if there is anything that is prohibited in the lease. By way of example it is reasonably common in Bishops Stortford leases that pets are not permitted in in a block in Bishops Stortford. If you like the flatin Bishops Stortford but your dog is not allowed to live with you then you will be faced hard determination. If a Bishops Stortford lease has no more than 80 years it will affect the value of the flat. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth finding out what this would cost. For most Bishops Stortfordlease extensions you would be required to have owned the premises for a couple of years in order to be eligible to carry out a lease extension. This question is useful as a) areas can result in problems in the building as the common areas may begin to deteriorate if services remain unpaid b) if the tenants have a dispute with the running of the building you will wish to have full disclosure