We are purchasing a 2 bedroom apartment in Wheathampstead with a mortgage. We like our Wheathampstead conveyancer, but the lender says he's not on their "panel". It seems we have no choice but to use one of the bank panel solicitors or continue with our Wheathampstead lawyer and pay for one of their panel ones to represent them. We consider that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Wheathampstead conveyancing solicitor to apply to be on the conveyancing panel.
My Conveyancer in Wheathampstead is not listed on the Clydesdale Approved Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are excluded from the Clydesdale list of approved lawyers?
Your options are as follows:
- Complete the purchase with your preferred Wheathampstead lawyers but Clydesdale will need to retain a lawyer on their list of acceptable firms. This will inevitably rack up the overall legal fees and result in frustration.
- Get a new solicitor to act in the conveyancing, remembering to check they are Clydesdale approved.
- Persuade your Clydesdale solicitor to seek to join the Clydesdale panel
Are there restrictive covenants that are commonly identified during conveyancing in Wheathampstead?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Wheathampstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I need to find a conveyancing solicitor for leasehold conveyancing in Wheathampstead. I've chance upon a site which seems to have the perfect solution If there is a chance to get all the legals completed via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any advice for leasehold conveyancing in Wheathampstead with the purpose of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Wheathampstead can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the buyers’ conveyancers. Some Wheathampstead leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Wheathampstead leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you dont have the approvals to hand you should not contact the landlord without checking with your solicitor in advance. You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I am the registered owner of a 1st floor flat in Wheathampstead, conveyancing formalities finalised in 2000. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Wheathampstead with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ends on 21st October 2080
With just 61 years remaining on your lease the likely cost is going to be between £18,100 and £20,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.