We're in Stanwick, First time buyers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I just acquired a house at auction in Stanwick. Conveyancing is needed. What happens now?
Now that you have exchanged you must hire the services of a conveyancing practitioner quickly as you are facing a fast approaching deadline in which to complete the transaction. Every auction property will ordinarily have an associated legal pack. This will include evidence of title and search results. In the case of leasehold property the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You should hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
is it true that all Stanwick solicitor firms on the Aldermore conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be overseen by the SRA. Some lenders do list licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
After much negotiation I have agreed a price on an apartment in Stanwick. My financial adviser pressured me to appoint their conveyancer. I paid an upfront payment of £200. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I own a 4 bedroom Georgian property in Stanwick. Conveyancing lawyer acted for me and Chelsea Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stanwick and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Stanwick. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Stanwick
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Last March I purchased a leasehold flat in Stanwick. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Stanwick Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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The best form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this situation the tenants enjoy control and although a managing agent is usually employed if it is larger than a house conversion, the managing agent retained by the leaseholders. Are there any major works in the near future that could add a premium to the service fees? How much is the maintenance charge and ground rent on the flat?
How much should conveyancing in Stanwick cost?
Almost all Stanwick conveyancing solicitors will charge a standard fee. In the event that further work become due during the transaction your solicitor is obliged disclose to you in writing of any further fees for any work as soon as it becomes apparent. Some firms may agree not to charge a fee if a transaction does not go ahead, others will levy an bill for a percentage of the set fee, depending on the stage at which the conveyancing fails.
It may be helpful for you to obtain two or three firms to supply you a quotation.