My husband and I are purchasing a 3 bedroom apartment in Stockbridge Village with a mortgage. We would like to retain our Stockbridge Village lawyer, but the lender advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Stockbridge Village property lawyer as well as pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Stockbridge Village conveyancing solicitor to apply to be on the conveyancing panel.
Is it possible for conveyancing in Stockbridge Village to be completed inside 10 days?
In a situation where the seller is applying time constraints for your conveyancing we would recommend that your solicitor is familiar with the area as they will make use of local relationships and insight. It is possible that they would have transacted previousproperties in the same neighbourhood. You would be best advised to use a Stockbridge Village conveyancing lawyer. In addition, check that the conveyancing firm is on the on the approved list for your mortgage company. It is understood that just under twenty per cent of Stockbridge Village conveyancing transactions are delayed or jeopardised after discovering a buyer’s solicitor was not on their mortgage lender’s list of approved solicitors. This can often result in the transaction being delayed by an average of three weeks. It is believed that this issue impacts approximately one hundred thousand home sales annually. Most Stockbridge Village conveyancing practices can not represent certain banks so do check as early as possible.
I am helping my step-mother sell her house in Stockbridge Village. Will the conveyancer commission the energy assessment or it is for me to coordinate?
After the abolition of Home Information Packs, energy performance certificates was maintained a required element of selling a house. An energy assessment must be commissioned before the property is marketed. It is not something that lawyers ordinarily arrange. If you are instructing a Stockbridge Village conveyancing solicitor they may be willing to arrange energy assessments due to their contacts with reputable local assessors
I have been told by my lawyer that lack of planning permission insurance is required on my purchase. What is the level of cover for Stockbridge Village conveyancing?
The right level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Barclays and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Lloyds are being pedantic. The Stockbridge Village solicitor who is on the Lloyds conveyancing panel is saying indemnity insurance will be fine but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am looking for a leasehold apartment up to £245,000 and found one close by in Stockbridge Village I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Stockbridge Village for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I am looking for a conveyancing solicitor in Stockbridge Village for my house move. Can I see a firm’s record with the profession’s regulator?
One can search for documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator may monitor telephone calls for training reasons.
I have just started marketing my garden flat in Stockbridge Village. Conveyancing solicitors are to be appointed soon, however I have recently received a quarterly maintenance charge demand – Do I pay up?
It best that you pay the service charge as usual because all ground rent and service payments should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a studio flat in Stockbridge Village, conveyancing having been completed in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Stockbridge Village with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2086
With only 61 years unexpired we estimate the premium for your lease extension to be between £19,000 and £22,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.