My solicitor has informed me that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Stockbridge Village?
The right level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
I'm spending time viewing houses in Stockbridge Village and I am now considering a potential offer. Is it advisable to have a property lawyer on ‘stand by’? I am planning to take a home loan with Coventry BS.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are taking out a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
I have finally had an offer on a flat in Stockbridge Village accepted, the vendors do nevertheless have a dependent purchase. The sellers have offered on a property, but it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Stockbridge Village. What should be my next step? At what point do I apply for the mortgage with Lloyds?
It is normal to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Stockbridge Village conveyancing search costs, etc). The first course of action is to check that your conveyancer is on the Lloyds approved list. Concerning the subsequent stages this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a rising market many buyers will apply for the mortgage with Lloyds and pay for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Stockbridge Village.
We are purchasing a house and the lawyer has raised the issue of Chancel Repair for which the property could be obligated to contribute to given it’s proximity to the area of such a church. She has suggested insurance. Is this really required for conveyancing in Stockbridge Village
Unless a previous purchase of the property completed after 12 October 2013 you may take it that conveyancing practitioners carrying out conveyancing in Stockbridge Village to continue to propose a a chancel search and or insurance against a claim.
I used Stirling Law several years past for my conveyancing in Stockbridge Village. Now, I need my documents however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Stockbridge Village of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am using a search engine for the phrase on line conveyancing in Stockbridge Village it reveals many property lawyerslocally. With so much choice what is the best way to find the suitable solicitor for my move?
The preferential method of finding the right conveyancer is via trusted recommendation, so enquire of colleagues and those you trust who have bought a property in Stockbridge Village or a respected estate agent or mortgage broker. Charges for conveyancing in Stockbridge Village vary, so it's a good idea to request at least four fee estimates from different property lawyers. Make sure that you know what costs in the quote includes.
I am employed by a long established estate agency in Stockbridge Village where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Stockbridge Village conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a studio flat in Stockbridge Village, conveyancing formalities finalised in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Stockbridge Village with an extended lease are worth £211,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2093
You have 68 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
My work colleague mentioned that before selecting a conveyancing firm they need approved by your bank. It happens to be my first home move but I have an AIP via Virgin Money and I already have a bricks and morter conveyancing lawyer in Stockbridge Village in place. Will Virgin Money need an approved conveyancer to be selected? If so, where can I find that list so I can pick a conveyancing lawyer in Stockbridge Village?
You need to use a solicitor that is on the Virgin Money panel. Simply call your preferred Stockbridge Village conveyancing lawyer and ask if they are on the Virgin Money panel. If they are not approved you have a number of options open to you here:
- Complete the purchase with your existing Stockbridge Village lawyer but Virgin Money will need to appoint a lawyer on their conveyancing panel. The net impact is additional charges together with likely frustration.
- Appoint a new conveyancing practitioner to act in the purchase, not forgetting to check that they are on the Virgin Money conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to get listed on the Virgin Money conveyancing panel.