We are buying a 3 bedroom semi in Kings Langley. The intention is to carry out a loft conversion at the property.Will the conveyancing process include enquiries to see if these works were previously refused?
Your property lawyer should check the registered title as conveyancing in Kings Langley will on occasion reveal restrictions in the title documents which restrict categories of changes or necessitated the consent of another owner. Certain works need local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
When it comes to lenders such as Barclays, do Kings Langley property lawyers face a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I'm in the process of viewing apartments in Kings Langley and I am now considering a potential offer. Is it best to have a solicitor on ‘stand by’? I intend to finance via a home loan with Kent Reliance.
It would be wise to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I am buying a new build house in Kings Langley with a loan from Nottingham Building Society. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my lawyer about this extras as it will jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Kings Langley is where the house is located. What do you suggest?
Flying freeholds in Kings Langley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kings Langley you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kings Langley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Last October I purchased a leasehold property in Kings Langley. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a split level flat in Kings Langley, conveyancing having been completed 4 years ago. How much will my lease extension cost? Similar properties in Kings Langley with a long lease are worth £170,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2097
You have 78 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
My husband and I are buying a first floor flat in Kings Langley. At the point of instructing our conveyancing practitioner, they told us that they were on all major UK mortgage company panels. The mortgage broker contacted us yesterday to advise that they are not on the Coventry BS approved list. Should that be true, what should we do? Do we just find a different lawyer that is on their panel or do we cover the costs for separate representation, with Coventry BS appointing their own preferred conveyancer.
If you are purchasing a property needing a mortgage it is usual for the purchaser’s lawyers to also represent the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's list of approved lawyers. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to satisfy. Some building societies now require their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should call Coventry BS and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Coventry BS's conveyancing panel and you may continue to use your own Kings Langley solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.