Can I be sure that the Stockbridge conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Stockbridge obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your conveyancing.
Planning on purchasing a house 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 Barclays 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 property lawyer is on the Barclays conveyancing panel.
My offer on a semi in Stockbridge has been agreed to, but there is a chain. The sellers have put an offer on on an apartment, however it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Stockbridge. What should be my next step? At what point do I apply for the mortgage with Nationwide?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Stockbridge conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the Nationwide conveyancing panel. Concerning the subsequent phase this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. During a buoyant market the majority of home buyers would apply for a home loan with Nationwide and arrange for the valuation and only if it comes back ok would they ask their conveyancer to press on with the conveyancing in Stockbridge.
I have been told that property searches are the main reason for delay in Stockbridge house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Stockbridge.
five months have elapsed following my purchase conveyancing in Stockbridge took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 asset 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 Stockbridge differ for new build properties?
Most buyers of new build or newly converted property in Stockbridge contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because developers in Stockbridge usually buy the site, 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 conveyancers 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.
I decided to have a survey completed on a property in Stockbridge prior to instructing lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some lenders will refuse to grant a loan on this type of house.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you contact us we can check with the relevant mortgage company. 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.
I've recently bought a leasehold flat in Stockbridge. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. 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).
Leasehold Conveyancing in Stockbridge - Sample of Queries before buying
Is anyone aware of any major works anticipated that could add a premium to the service fees? What prohibitions are contained in the Stockbridge Lease? If a Stockbridge lease has no more than eighty years it will affect the value of the flat. Check with your bank that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you will need to own the property for two years in order to be eligible to carry out a lease extension.