We see that you have a search directory listing law firms on the Nationwide conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Stroud?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stroud.
I'm the single beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Stroud. The Stroud property was put into my name in July. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the property in July. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view banks take of it, depend on the lender as this obligation primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
I have paid off my mortgage with Principality. I assume I don't need a Stroud solicitor on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
After months of negotiation I have agreed a price on an apartment in Stroud. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an on account payment of £175. A few days later, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Yorkshire BS 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 Yorkshire BS 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 recentlybeen informed that Stirling Law have been shut down. They conducted my conveyancing in Stroud for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The easiest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stroud conveyancing specialists.
I am looking for a leasehold apartment up to £305k and found one close by in Stroud I like with a park and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Stroud suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I'm refinancing my primary home to a BTL mortgage with National Westminster Bank and intend to use the remaining equity as a down payment on another property. The location we are looking at is Stroud. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Make use of our comparison tool on this page to be sure that the solicitors are approved by both lenders. On the basis that they are your lawyer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and make apparent your expectations and requirements.
Last April I purchased a leasehold house in Stroud. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a studio flat in Stroud, conveyancing formalities finalised November 2007. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Stroud with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2086
With only 61 years unexpired we estimate the price of your lease extension to be between £18,100 and £20,800 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 provide a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.