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Find a St Albans Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in St Albans? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your St Albans transaction at risk of delay or failure.

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Recently asked questions about conveyancing in St Albans

My son is buying a newly built flat in St Albans with a home loan from Aldermore. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

We're in St Albans, First time buyers purchasing with a mortgage (lender is Yorkshire BS , and our lawyer is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

Should commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in St Albans?

Many commercial conveyancing solicitors in St Albans will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in St Albans. The report sets out definitive information 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 St Albans.

For every commercial conveyancing transaction in St Albans it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to St Albans commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in St Albans.

How does conveyancing in St Albans differ for newly converted properties?

Most buyers of new build residence in St Albans come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in St Albans usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in St Albans or who has acted in the same development.

I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. St Albans is the location of the property. Can you offer any opinion?

Flying freeholds in St Albans are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Albans you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Albans may ascertain 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.

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Find out more about how flying freehold can affect your the value of a property.