This question may be naive but I am unexperienced as a 1st time purchaser of a ground floor flat in Stockbridge. Do I receive the keys to the premises on completion from my conveyancer? If so, I will use a High Street conveyancing solicitor in Stockbridge?
On the day of completion you do not need to go to the conveyancers office in Stockbridge. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you should be able to collect the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
My partner and I have organised a further advance on our mortgage from UBS as we want to carry out alterations to our house in Stockbridge. Do we need to appoint a nearby Stockbridge solicitor on the UBS conveyancing panel to deal with the legals?
UBS don't usually appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
I am expecting a AIP from Principality this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Stockbridge solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Stockbridge solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
We are purchasing a house and the lawyer has identified Chancel Repair for which the house could be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly required for conveyancing in Stockbridge
Unless a previous acquisition of the premises took place after 12 October 2013 you could take it that conveyancing practitioners carrying out conveyancing in Stockbridge to remain encouraging a chancel search and or chancel repair liability policy.
I am buying my first flat in Stockbridge with a loan from Leeds Building Society. The sellers refused to budge the price so I negotiated £7000 of extras instead. The house builders rep advised me not reveal to my solicitor about the side-deal as it will affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Stockbridge is the location of the property. Is there any advice you can give?
Flying freeholds in Stockbridge are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stockbridge you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stockbridge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Looking forward to exchange soon on a ground floor flat in Stockbridge. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Stockbridge should include some of the following:
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if lease has a provision for a slush fund for major works? Repair and maintenance of the property Does the lease prohibit wood flooring? You should have a good understanding of the insurance requirements Where does the liability rest to repair and maintain the building. It is essential for you to know who is responsible the repair and maintenance of all parts of the block and communal areas
I acquired a leasehold flat in Stockbridge, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar properties in Stockbridge with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2096
With only 72 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
My mother purchased her house in Stockbridge 7 years ago. She has since got married, divorced and has recently married again. She now intends to dispose of the Stockbridge property. I think she will simply be requested to provide a copy of the marriage certificates to the conveyancing practitioner but she is anxious it will frustrate the sale of the property. Should she instruct a conveyancing practitioner to update the Land Registry information for the property?
The is no need to update the register on the basis that you have the evidence needed to demonstrate how the name change resulted.
The buyer’s property lawyer should check the registered entries and request evidence to prove the change of name e.g. marriage documentation.