Just been in touch with my conveyancing solicitor in Stotfold who conducted the legals 18 months ago and wanted a conveyancing estimate based on an identical type of house sale & purchase (a leasehold premises and a freehold property) of similar values with a loan from Bank of Ireland. I am now being charged twice the amount. Should I look for a cheaper online firm of conveyancing solicitor?
The costs illustration is slightly on the expensive side. If you shop around you may be able to trim some of the cost by say a hundred pounds. On the other hand, assuming were satisfied with the service the firm offered you mightlive to rue choosing an an unknown lawyer. Don't forget to ensure that the firm can act for Bank of Ireland. You can employ our search tool to get a quote a Stotfold conveyancing firm on the Bank of Ireland member panel, which can often include conveyancing solicitors in Stotfold.
All was ready to move into my new home in Stotfold next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not unique to conveyancing in Stotfold.
We see that you have a search directory listing solicitors on the Leeds Building Society conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Stotfold?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stotfold.
I had intended to instruct a conveyancing solicitor in Stotfold for our house purchase. Our financial adviser informed us that our mortgage lenders Barclays Direct won't deal with them. Surely this is unduly restrictive?
A mortgage company may direct that an approved conveyancer act for it. Borrowers are liable to meet the cost of this. Do use our database to choose a solicitor to carry conveyancing in Stotfold on the Barclays Direct conveyancing panel.
Just had an offer accepted on a new build flat in Stotfold. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Stotfold
-
There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Stotfold is the location of the property. Is there any guidance you can impart?
Flying freeholds in Stotfold are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stotfold you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stotfold may ascertain 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.