We had selected solicitors locally in Stockbridge on the Yorkshire BS solicitor panel. They have just billed me a separate charge for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms and Conditions or estimate then yes your solicitor can charge a fee for this. This fee is not set by Yorkshire BS but by your Stockbridge conveyancer. Some firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee and others do not.
It is unclear whether my bank requires a lease extension. I have called my Stockbridge building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Stockbridge conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend in accordance with their published requirements. Who do I believe?
As long as the property lawyer is on the lender panel, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After shopping around on the internet I have found a Stockbridge lawyer having made sure that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS 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 property lawyer 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 Stockbridge postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Stockbridge.
A colleague recommended that where I am purchasing in Stockbridge I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Stockbridge conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Stockbridge around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Stockbridge.
How does conveyancing in Stockbridge differ for new build properties?
Most buyers of new build residence in Stockbridge come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Stockbridge usually buy the real estate, 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 accustomed to new build conveyancing in Stockbridge or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Stockbridge prior to retaining conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some banks tend refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stockbridge. Conveyancing may be slightly more expensive based on your lender's requirements.
My cousin has recommend that I use his conveyancers in Stockbridge. Should I use them?
Much as we are happy to recommend a Stockbridge conveyancing lawyer the best way to choose a conveyancing practitioner is to have guidance from friends or family who have actually previously instructed the firm that you are contemplating using.
Completion is due on the sale of our £150,000 maisonette in Stockbridge in just under a week. The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Stockbridge?
Stockbridge conveyancing on leasehold flats more often than not requires the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They are at liberty to levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Stockbridge Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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Are there any major works in the planning that will likely add a premium to the service charges? How is the lease structured? The best form of lease structure is where the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and even though a managing agent is often employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.