I am need of leasehold conveyancing for an apartment in a fairly new development (6 years built) in Shenstone. The vast majority the appartments have already been sold. Do I need carry out the conveyancing searches as part of conveyancing in Shenstone?
You are opening yourself up to an unnecessary risk in refusing to carrying out Shenstone conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would strongly advise in the strongest possible terms that you have them. If timings and price are top of your issues you should consider with your conveyancer about the options such as indemnity insurance available to you
We wanted to use a property lawyer in Shenstone for our house move. Our broker has since advised us that our mortgage company Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
Before the recession most mortgage companies had a different appetite for risk. Almost all Shenstone conveyancing firms would have been on most bank panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms about their operations and their employees and establishing certain criteria such a completing on a minimum volume of conveyancing. Many Shenstone conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Shenstone is one of the hundreds of areas where the conveyancers we recommend are on the panel for Bank of Scotland.
A relative pointed out to me me that in buying a property in Shenstone there could be a number of restrictions prohibiting external changes to a property. Is this right?
We are aware of a number of properties in Shenstone which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Shenstone should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am expecting a AIP from Skipton this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Skipton recommend any Shenstone solicitors on the Skipton conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Shenstone solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I have a mortgage with Nationwide for my property in Shenstone. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention in advance of letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. You need not do this via a Nationwide conveyancing panel firm.
I require fast conveyancing in Shenstone as I am under an ultimatum to exchange contracts within one month. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
As you are not taking a home loan you are at liberty not to do searches although no law firm would advise that you don't. With plenty of history conveyancing in Shenstone the following are examples of issues that can arise and therefore affect the marketability of the property: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
I am using a search engine for the term conveyancing in Shenstone it shows results of many solicitorsin the vicinity. How do I determine which is the right property lawyer for the sale of my house?
The ideal method of choosing a suitable conveyancer is through a personal recommendation, so seek the guidance of colleagues and those you trust who have purchased a property in Shenstone or a respected estate agent or mortgage broker. Costs for conveyancing in Shenstone vary, so it's advisable to obtain a minimum of three estimates from different conveyancers. Dont forget to clarify that the costs are guaranteed not to rise.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £425,000 maisonette in Shenstone in just under a week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Shenstone?
For the majority of leasehold sales in Shenstone conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing conveyancing due diligence enquiries
Where consent is required before sale in Shenstone
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Shenstone Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
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What is the the remaining lease term? If a Shenstone lease has fewer than 80 years it will impact the value of the property. Check with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this will be. For most Shenstonelease extensions you would need to own the property for a couple of years in order to be eligible to carry out a lease extension. It is important to be aware if redecorating or some other major work is pending that will be shared by the tenants and may well dramatically increase the the maintenance charges or result in a one off payment.