My wife and I are about to exchange buying a property in Stokenchurch but as a consequence of damage from some water damage at the property I have was able negotiate reparation from the owner in the sum of £2k taking the form of a reduction in the price. This was going to be dealt with as part of amending the contract yet Santander will not agree to this. Should they have been notified?
Your conveyancing practitioner that is on a Santander approved list is required to inform Santander of any changes to the purchase price. If you were to refuse your property lawyer to notify the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new conveyancer for your conveyancing in Stokenchurch.
We see that you have a post code search directory listing firms on the Principality conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Stokenchurch?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stokenchurch.
My husband and I are purchasing a 1 bedroom flat in Stokenchurch with a loan from Platform Home Loans Ltd.We use our Stokenchurch conveyancing solicitor but Platform Home Loans Ltd advised that he's not listed on their "panel". We have to appoint a Platform Home Loans Ltd panel lawyer or keep our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you contains terms and conditions, one of which will be that solicitors must be on the Platform Home Loans Ltd solicitor panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
I have been told that property searches are the primary cause of obstruction in Stokenchurch conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Stokenchurch.
I purchased a terraced Georgian property in Stokenchurch. Conveyancing solicitor acted for me and Birmingham Midshires. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stokenchurch and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing solicitor who conducted the conveyancing.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Stokenchurch. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Stokenchurch ?
Most houses in Stokenchurch are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Stokenchurch in which case you should be looking for a Stokenchurch conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.
I inherited a studio flat in Stokenchurch, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Stokenchurch with a long lease are worth £186,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2077
With only 52 years unexpired the likely cost is going to range between £29,500 and £34,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.