In the event thatI were to purchase a straightforward propertyin Stamford for cash and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Stamford?
The sole reduction in fees you would make on is the Stamford conveyancing searches. A lawyer is obliged to do the vast majority of work - money laundering, correspond with the vendors conveyancing practitioner, SDLT submission, register the property etc. A slight saving might be made by not having to register a mortgage but it won't be a lot.
Why do I have to pay up front when it comes to conveyancing in Stamford?
If you are buying a property in Stamford your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the deposit is as part of the purchase price then this should be asked for shortly ahead of contracts are exchanged. The final balance that is due will be payable a few days prior to the completion date.
Me and my partner are purchasing a property in Stamford. It might be a silly question but how we can trust a conveyancer? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
If you had a top tip for choosing a conveyancing solicitor in Stamford what would it be?
We would encourage you not to base your choice on the lowest Stamford conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Stamford solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Stamford postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Stamford.
five months have elapsed following my purchase conveyancing in Stamford completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build apartment in Stamford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Stamford
Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
What advice can you give us when it comes to choosing a Stamford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Stamford conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Stamford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
What are the charges for lease extension conveyancing? How familiar is the firm with lease extension legislation?
Stamford Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
The majority of Stamford leasehold properties will have a service charge for maintenance of the building set on behalf of the management company. Where you purchase the apartment you will have to meet this charge, normally quarterly throughout the year. This could be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a ground rent to be met yearly, normally this is not a significant sum, say approximately £25-£75 but you should to enquire it because on occasion it can be many hundreds of pounds. Best to be warned whether redecorating or some other major work is anticipated to be shared amongst the leaseholders and may well materially increase the the maintenance costs or require a one time payment. The answer will be helpful as a) areas may result in problems in the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will want to know about it