The conveyancer who assisted with my previous purchase has sent a quote for £1150 for no sale no fee conveyancing in Stone. I am selling a modern detached home for £175,000. This appears overpriced. Is it in excess of what I should be paying for conveyancing in Stone?
The costs illustration is fractionally on the steep side. If you shop around you could get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, you couldcome to rue choosing an an unknown lawyer. Remember to ensure that the conveyancer can represent your mortgage company. You can employ our search tool to choose a Stone conveyancing company on the banks conveyancing panel which can often include conveyancing solicitors in Stone.
I purchased a freehold residence in Stone but still invoiced for rent, why is this and what is this?
It is rare for properties in Stone and has limited impact for conveyancing in Stone but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I'm refinancing my current house to a BTL loan with Santander and I will use the rest of the raised equity as a deposit on another property. The neighborhood we are interested in is Stone. Will your lawyers be able to act for the two banks and link together the transactions?
Do use our search tool on this site to check that the lawyers are approved by both lenders. On the basis that they are your solicitor will be able to tie up the two conveyancing matters but you should talk with you lawyer and make apparent your expectations and requirements.
I need to instruct a conveyancing solicitor for my conveyancing in Stone. I have land on a site which appears to be the ideal offering If it is possible to get all the legals done via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I’m about to sell my garden flat in Stone. Conveyancing is yet to be initiated, but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as usual given that all rents and service payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed 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 until 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 bought a 1st floor flat in Stone, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Stone with a long lease are worth £201,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 2090
With just 65 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as legals.
The suggested premium range that we have given is 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 investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
My 20yr old son is embarking on her first house purchase, he had his mortgage in principle. One the seller agreed the offer on the flat we rang the bank to issue the formal offer. I was very surprised to learn that banks do not accept all lawyer, they have to be on a list, is this correct?
Lenders ordinarily restrict either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Stone conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.