Me and my husband are buying a ground floor flat in Hazlemere. My property lawyer is not listed on the bank approved panel. Is it possible for me to retain my Hazlemere conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
Various options include
- Proceed with your chosen Hazlemere property lawyer but your lender will need to appoint a property lawyer on their conveyancing panel. This will result in additional charges and potential delay.
- Choose a fresh lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Appeal to your conveyancer to apply to join the bank panel
I am the registered owner of a freehold property in Hazlemere yet pay rent, why is this and what is this?
It’s unusual for properties in Hazlemere and has limited impact for conveyancing in Hazlemere 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 fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Will my conveyancer be making enquiries regarding flooding during the conveyancing in Hazlemere.
The risk of flooding is if increasing concern for solicitors dealing with homes in Hazlemere. Some people will purchase a property in Hazlemere, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a various checks that can be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Hazlemere. The standard property information forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the seller, then a buyer could bring a claim for damages as a result of such an misleading answer. A purchaser’s solicitors should also carry out an environmental report. This will indicate whether there is a recorded flood risk. If so, additional inquiries will need to be conducted.
I am looking for a ground for flat up to £235,500 and identified one close by in Hazlemere I like with a park and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Hazlemere in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
In sourcing the world wide web for the term on line conveyancing in Hazlemere it brings up numerous solicitorsin the vicinity. How do I determine which is the suitable conveyancer for purchase transaction?
The preferential way of choosing a suitable conveyancer is through a personal referral, so ask colleagues and those you trust who have bought a property in Hazlemere or the reputable estate agent or mortgage broker. Charges for conveyancing in Hazlemere differ, so it's sensible to secure at least three estimates from different property lawyers. Be sure to obtain confirmation that the costs are guaranteed not to increase.