I hired a local solicitor for my conveyancing in Stanwell recently. Reviewing the terms of engagement it is apparent thatI am on the hook for charges even if the movefalls through. Should I go with them or select an on-line conveyancing brokerage advertising no completion no cost conveyancing in Stanwell?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the conveyancing charges will generally be uplifted to neutralise those conveyances that fail to complete. Please beware that such promotions tend not to cover outlay for example Stanwell conveyancing search expenses.
Can you explain why leasehold purchase conveyancing in Stanwell is more expensive?
The conveyancing costs on a leasehold premises in Stanwell is inevitably more expensive than on a freehold acquisition or disposal. This is due to the supplemental work required in corresponding with the freeholder and management company to collate the evidence about whether the rent and maintenance charges have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
I am considering applying for a Principality mortgage for purchase of a new build (under development) in Stanwell with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
How does conveyancing in Stanwell differ for new build properties?
Most buyers of new build or newly converted property in Stanwell approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Stanwell typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Stanwell or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Stanwell I like with open areas and station nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Stanwell in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will likely be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I own a leasehold flat in Stanwell. Conveyancing and Accord Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Stanwell who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Stanwell conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have had difficulty in negotiating a lease extension in Stanwell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Stanwell conveyancing firm who can help.
An example of a Lease Extension case for a Stanwell premises is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired residue of the current lease was 82.93 years.