We're in Stone Cross, First time buyers purchasing with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How can we know in advance if a Stone Cross conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Stone Cross seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your conveyancing.
I recently had an offer accepted on a house in Stone Cross. My mortgage broker pressured me to appoint their solicitor. I paid an advanced payment of £175. A few days later, the lawyer contacted me to say that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have instructed a Stone Cross lawyer having checked that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Stone Cross postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Stone Cross.
Are there restrictive covenants that are commonly identified as part of conveyancing in Stone Cross?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Stone Cross. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Stone Cross differ for newly converted properties?
Most buyers of new build premises in Stone Cross approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Stone Cross tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Stone Cross or who has acted in the same development.
I need to instruct a conveyancing solicitor in Stone Cross for my remortgage. Is there any facility to review a solicitor's complaints history with the legal regulator?
You can search for documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training purposes.
I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Stone Cross. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Stone Cross ?
The majority of houses in Stone Cross are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are buying in Stone Cross in which case you should be shopping around for a Stone Cross conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.
I invested in buying a ground floor flat in Stone Cross, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Stone Cross with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2081
With 56 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues 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 placing reliance on this information before getting professional advice.