I do hope you can assist me. My Stone Cross solicitor is advising me that he has toorder Stone Cross conveyancing searches resulting from the fact thatthe firm are on the HSBCconveyancing panel. These Stone Cross checks cost a lot of money can this be avoided?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Stone Cross conveyancing searches.
What does my ID and proof of funds have anything to do with my conveyancing in Stone Cross? Why is this being asked of me?
Stone Cross conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement no older than three months).
Proof of source of monies is also required under the money laundering statutes as conveyancers are required to check that the funds you are utilising to purchase a property (be it the exchange deposit or the total purchase price where you are a cash purchaser) has come from legitimate source (such as an inheritance) as opposed to the proceeds of illegitimate activity.
I used Wolstenholmes several years ago for my conveyancing in Stone Cross. I now require my papers however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Stone Cross of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Stone Cross is the location of the property. What do you suggest?
Flying freeholds in Stone Cross are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stone Cross you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stone Cross may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking into buying my first house which is in Stone Cross and I am already nervous. I couldn't find anything specific about Stone Cross. Conveyancing will be needed in due course but do you know about the Stone Cross area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Stone Cross. In the meantime here are some basic statistics that we found
Can you provide any top tips for leasehold conveyancing in Stone Cross from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Stone Cross can be avoided if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers’ conveyancers. Some Stone Cross leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Arranging a new share certificate is often a lengthy process and slows down many a Stone Cross conveyancing deal. If a new share is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible. The majority of landlords or managing agents in Stone Cross charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Stone Cross. You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I am the registered owner of a 1 bedroom flat in Stone Cross, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Stone Cross with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2076
With 52 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.