I plan on acquiring a leasehold flat in Stafford. My property lawyer is not on the lender approved list. Am I still permitted to continue with my Stafford conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
One will need to appoint a lawyer to deal with the legal work required when you need a mortgage to buy your home. The property lawyer will carry out all the necessary investigations on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is in place. You could instruct a Stafford conveyancer of your choice. However, where the property lawyer appointed is not a member of the bank solicitor panel further costs will arise as separate legal representation will be need by the lender. Conveyancing panel applications can be submitted, so where your lawyer has not in the past applied for membership they should take the chance to apply.
Why do I have to pay up front when it comes to conveyancing in Stafford?
If you are buying a property in Stafford your solicitor will ask you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the purchase price then this should be required immediately prior to contracts are exchanged. The closing balance that is needed should be transferred shortly before completion.
What happens if my solicitor is suspended from the Lloyds Conveyancing panel ahead of completing my conveyancing in Stafford?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I opted to have a survey completed on a property in Stafford before instructing lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stafford. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Stafford and I am already nervous. I couldn't find anything specific about Stafford. Conveyancing will be needed in due course but do you know about the Stafford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Stafford. In the meantime here are some basic statistics that we found
As co-executor for the will of my uncle I am disposing of a residence in Monmouth but live in Stafford. My conveyancer (based 300 kilometers awayrequires that I sign a stat dec prior to completion. Can you recommend a conveyancing practitioner in Stafford to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Stafford based