Am I correct in assuming that the fact that my solicitor in Borehamwood and Elstree is not identified on my bank's solicitor panel that there is a problem with the standard of her conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of plausible explanations. Just recently a 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Borehamwood and Elstree conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Borehamwood and Elstree?
Its becoming the norm that commercial conveyancing solicitors in Borehamwood and Elstree will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Borehamwood and Elstree. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Borehamwood and Elstree.
For each commercial conveyancing transaction in Borehamwood and Elstree it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Borehamwood and Elstree commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Borehamwood and Elstree.
I am looking for a flat up to £235,500 and found one close by in Borehamwood and Elstree I like with a park and station nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Borehamwood and Elstree in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I am a sole trader hoping to lease a unit on the high street. Can you recommend conveyancers offering no-sale-no fees for non-domestic conveyancing in Borehamwood and Elstree for below £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Borehamwood and Elstree, including the disposal and acquisition of businesses as well as simply property. If you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can find you the right firm. Regarding the charges this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or email so as to enable us to provide you with a fixed commercial conveyancing quote.
I wish to rent out my leasehold apartment in Borehamwood and Elstree. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
The lease governs relations between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Borehamwood and Elstree do not prevent subletting altogether – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I own a 1st floor flat in Borehamwood and Elstree, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Borehamwood and Elstree with a long lease are worth £195,000. The ground rent is £45 per annum. The lease finishes on 21st October 2082
With just 64 years unexpired we estimate the premium for your lease extension to be between £14,300 and £16,400 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.