I am mortgaging my flat in Old Stratford, does my lawyer have to be on the Yorkshire BS Solicitor panel?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Due to the encouragement of my in-laws I had a survey completed on a house in Old Stratford in advance of retaining solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies may refuse to issue a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Old Stratford. Conveyancing will be smoother if you use a solicitor in Old Stratford especially if they are familiar with such properties in Old Stratford.
How do I use the search tool to locate a conveyancing practitioner in Old Stratford on the panel for my mortgage?
Step one is to pick a bank such as HSBC Bank, Chelsea Building Society or Alliance & Leicester then choose your preferred area for instance Old Stratford. Conveyancing firms in Old Stratford and beyond should be listed.
I need to retain a conveyancing solicitor for purchase conveyancing in Old Stratford. I happened to chance upon a site which seems to have the perfect answer If it is possible to get all the legals completed via email that would be ideal. Do I need to be concerned? 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 am employed by a long established estate agent office in Old Stratford where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Old Stratford conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Old Stratford Conveyancing for Leasehold Flats - A selection of Queries before buying
-
The majority of Old Stratford leasehold properties will be liable to pay a service charge for the upkeep of the building set by the freeholder. If you acquire the apartment you will have to pay this liability, usually in instalments during the year. This could differ from several hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge to be met annual, normally this is not a exorbitant amount, say approximately £50-£100 but you need to check it because occasionally it can be prohibitively expensive. Generally speaking the outlay for major works tend not to be included within maintenance charges, albeit that a few managing agents in Old Stratford ask leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for larger works.
What can I do where I am not happy with the conveyancer who did our conveyancing in Old Stratford?
Occasionally the level of service you receive is not as you expect, and unfortunately occasionally matters do not go as planned. That being said there is recourse where you were not happy with your conveyancing in Old Stratford. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their governing body. If things still aren’t sorted out you may consider enlisting the help of the Legal Ombudsman.