I have been told by my solicitor that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Hertfordshire?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We have agreed to purchase a house in Hertfordshire. An unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Lloyds your lawyer must follow the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Lloyds where a lease does not meet these specifications. The conditions relate to the installation of panels on properties nationwide and is not limited to Hertfordshire.
I recently had an offer accepted on a house in Hertfordshire. My mortgage broker recommended their conveyancers. I paid an upfront payment of £150. A few days later, the conveyancer called me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Will commercial conveyancing searches disclose planned roadworks that may impact a commercial premises in Hertfordshire?
Many commercial conveyancing solicitors in Hertfordshire will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Hertfordshire. The search result provides 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 Hertfordshire.
For every commercial conveyancing transaction in Hertfordshire it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Hertfordshire commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Hertfordshire.
I have recentlyfound out that Stirling Law have closed. They carried out my conveyancing in Hertfordshire for a purchase of a freehold house 10 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hertfordshire conveyancing specialists.
My business partner and I are wishing to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed charges for commercial conveyancing in Hertfordshire for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Hertfordshire, including the sale and purchase of businesses as well as simply property. Whether you are hoping to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we can find you the right lawyer. Regarding the costs this will depend on the structure and complexity of the deal. Let us have your contact information or email us so that we may furnish you with a fixed commercial conveyancing calculation.
I am tempted by the attractive purchase price for a couple of flats in Hertfordshire both have about 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Hertfordshire. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena.
I acquired a split level flat in Hertfordshire, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Hertfordshire with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease runs out on 21st October 2075
With 55 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.