My fiance and I are looking to acquire a home in Stapleford and are in fact using a Stapleford conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Stapleford conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Stapleford solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
I purchased a freehold property in Stapleford yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Stapleford and has limited impact for conveyancing in Stapleford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
3 months have elapsed following my purchase conveyancing in Stapleford concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 property 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.
How does conveyancing in Stapleford differ for new build properties?
Most buyers of new build residence in Stapleford approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Stapleford usually buy the land, 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 property lawyers 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 Stapleford or who has acted in the same development.
In what way does the Landlord & Tenant Act 1954 affect my business offices in Stapleford and how can your lawyers assist?
The particular law that you refer to affords a safeguard to commercial leaseholders, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Stapleford
Is it best to instruct a Stapleford conveyancing lawyer in close proximity to the house I am hoping to buy? I have an old university friend who can handle the conveyancing however her office is approximately 350miles drive away.
The primary upside of using a high street Stapleford conveyancing firm is that you can drop in to sign paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were content that must trump using an unknown Stapleford conveyancing lawyer solely due to them being round the corner.