Unfortunately I am unable to travel far from Houghton Regis. Please clarify why all Houghton Regis conveyancing practitioners aren't automatically on all bank panels?

Mortgage Companies normally impose restrictions on either the nature or volume of conveyancing firms on their approved list of lawyers. A common example of such criteria being that a firm must have two or more partners. In addition to restricting the type of firm, some banks such as HSBC made a decision to limit the size of their panel they use to represent them. You should note that building societies have no responsibility for the quality of service given by any Houghton Regis property lawyer on their panel. Increases in mortgage fraud was the primary trigger for the rationalisation of conveyancing panels in the last decade even though there are opposing assessments about whether solicitors sat at the center of that fraud. Data published by HMLR reveal that thousands of conveyancing firms only transact less than three conveyances annually. Those advocating conveyancing panel cuts ask why law firms should have the right to remain on a lender panel when it is apparent that conveyancing is not their speciality?

Is it realistic for conveyancing in Houghton Regis to be finalised in less than a month?

In a situation where the seller is applying a tight deadline to exchange it is advisable to make sure that your lawyer is familiar with the area as they will benefit local contacts and knowledge. It is possible that they could have transacted previoushomes in the same street. You would be best advised to use a Houghton Regis conveyancing solicitor. Second, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is believed that nearly one in five of Houghton Regis conveyancing transactions are frustrated or derailed after finding out that a buyer’s conveyancer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the transaction being frustrated by almost three weeks. It is believed that this issue affects approximately one hundred thousand home moves every year. Almost all Houghton Regis conveyancing practices can not represent certain mortgage companies so do check as early as possible.

Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Houghton Regis I like with open areas and station in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Houghton Regis for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.

I have been sourcing a conveyancing practitioner in Houghton Regis for my home move. Can I review a solicitor's complaints history with the legal regulator?

Members of the public may find presented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after Jan 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training requirements.

Can you provide any advice for leasehold conveyancing in Houghton Regis from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Houghton Regis can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers’ lawyers.
If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Houghton Regis state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals in place do not contact the landlord without contacting your lawyer first. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. A minority of Houghton Regis leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. The majority of freeholders or Management Companies in Houghton Regis charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Houghton Regis.

Leasehold Conveyancing in Houghton Regis - Sample of Questions you should ask Prior to Purchasing

How many of the leaseholders are in arrears for their maintenance charge payments? The prefered form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this scenario the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Does the lease include onerous restrictions?