Is the fact that my conveyancer in Stockbridge is not listed on my lender's solicitor panel that there is a problem with the quality of his conveyancing?
That is most likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Stockbridge conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Stockbridge. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this allowed?
Where you plan to refinance then Nationwide will require that you use a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a two bedroom flat in Stockbridge. Do I pick up the keys to the premises on completion from my solicitor? If so, I will appoint a local conveyancing solicitor in Stockbridge?
On the day of completion you will not be required to go to the conveyancers office in Stockbridge. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and once they have received this, you will be called to receive the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Stockbridge bank branch on various occasions and was told it wasn't an issue and they will lend. My Stockbridge conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancer is on the lender panel, they must comply with the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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.
Planning on purchasing a maisonette in Stockbridge. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stockbridge conveyancing practitioner is on the Skipton conveyancing panel.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a residence in Stockbridge? or I am told that there is a law dating back centuries that could mean that house owners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this applicable for conveyancing in Stockbridge?
Unless a prior acquisition of the house completed after 12 October 2013 you may assume that solicitors handling conveyancing in Stockbridge to remain encouraging a chancel search and or insurance against a claim.
I've recently bought a leasehold property in Stockbridge. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
I purchased a 2 bed flat in Stockbridge, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Stockbridge with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2093
With just 68 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
My lawyers in Stockbridge have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the lender. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the lender directly.