I am hoping to receive a offer of a home loan from Santander. My intention is to enlist the help of a Licensed Conveyancer in Borehamwood and Elstree. Does the Santander Conveyancing panel exclude conveyancers regulated by the CLC?

The Santander conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.

A friend recommended that if I am buying in Borehamwood and Elstree I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

This is a search is sometimes included in the estimate for your Borehamwood and Elstree conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Borehamwood and Elstree around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Borehamwood and Elstree.

Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Borehamwood and Elstree is where the house is located. Is there any guidance you can impart?

Flying freeholds in Borehamwood and Elstree are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Borehamwood and Elstree you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Borehamwood and Elstree 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 premises.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Borehamwood and Elstree. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Borehamwood and Elstree ?

Most houses in Borehamwood and Elstree are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Borehamwood and Elstree so you should seriously consider shopping around for a Borehamwood and Elstree conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.

Borehamwood and Elstree Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

Be sure to find out if there is anything that is prohibited in the lease. By way of example it is fairly common in Borehamwood and Elstree leases that pets are not permitted in in a block in Borehamwood and Elstree. If you love the propertyin Borehamwood and Elstree however your dog is not allowed to make the move with you then you have a very difficult determination. Where a Borehamwood and Elstree lease has less than 80 years it will have adverse implications on the salability of the flat. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this will be. For most Borehamwood and Elstreelease extensions you will need to own the premises for 24 months before you are legally able to extend the lease. Is there a share of the freehold?

Our solicitor in Borehamwood and Elstree has uncovered a defect with the lease for the property we are purchasing in Borehamwood and Elstree. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?

Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Borehamwood and Elstree conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions must be adhered to by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company