I plan on buying a leasehold flat in Huntingdon. My Conveyancer is not listed on the mortgage company conveyancing panel. Am I still permitted to retain my Huntingdon conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
Various options include
- Carry on with your preferred Huntingdon conveyancer but your lender will undoubtedly retain a property lawyer from their approved panel. The net result is additional cost and probable interruption.
- Get a new conveyancing practitioner to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancer to seek to join the bank panel
Me and my partner are buying a apartment in Huntingdon. I might seem paranoid but how we can trust a solicitor? On completion day we will need to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously selected conveyancers located in Huntingdon on the UBS solicitor approved list. They are now charging me an additional amount for dealing with the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. The fee is not dictated by UBS but by your Huntingdon property lawyer. Plenty of firms on the UBS panel will quote an ‘acting for lender’ fee but many practices include it on their overall fee.
We are getting the release of further monies on our home loan from Nationwide as we intend to carry out renovations to our home in Huntingdon. Do we need to choose a bricks and mortar Huntingdon solicitor on the Nationwide conveyancing panel to deal with the legals?
Nationwide do not ordinarily instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
I am looking for a ground for flat up to £195,000 and identified one close by in Huntingdon I like with a park and station nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Huntingdon suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease may be an issue. 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 at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Jane (my partner) and I may need to let out our Huntingdon 1st floor flat for a while due to a new job. We used a Huntingdon conveyancing practice in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Huntingdon do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Leasehold Conveyancing in Huntingdon - A selection of Questions you should ask before buying
Its a good idea to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to every day issues like the cleanliness of the communal areas. Ask prospective neighbours whether they are happy with them. In conclusion, find out the dates that the service fees are due to the managing agents and specifically how they are spending that money. Make sure you investigate if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Huntingdon. If you love the apartmentin Huntingdon yet your cat can’t move with you then you have a very difficult determination.
Why can't I complete my conveyancing in Huntingdon on May bank holiday?
Because on completion the money needs to pass between the banks of the buyer and owner’s solicitor and currently this can only take place on a working day. It is not possible to complete on a weekend either.