Our solicitor has identified a a legal deficiency with the lease for the property we are purchasing in Staffordshire. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions must be adhered to.
I am purchasing a new build flat in Staffordshire. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Staffordshire you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Staffordshire.
I am buying a detached bungalow in Staffordshire. We would like to an extension at the rear at the property.Will the conveyancing process include enquiries to see if these alterations were previously refused?
Your property lawyer will review the registered title as conveyancing in Staffordshire can sometimes reveal restrictions in the title deeds which prevent certain changes or require the consent of another owner. Certain extensions call for local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
Is it correct that all Staffordshire CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing panel?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Virgin Money have agreed my home loan in principle, my offer on a flat in Staffordshire has been agreed to, what are the next steps?
The estate agent will want to be advised as to your lawyer's details (ensure that the conveyancing practitioners are on the bank’s approved list). Contact Virgin Money or the broker and finish off any appropriate paperwork. Virgin Money will appoint a valuer who will get in touch with the selling agent or seller to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Virgin Money will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Staffordshire.
How does conveyancing in Staffordshire differ for newly converted properties?
Most buyers of new build or newly converted property in Staffordshire contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Staffordshire usually purchase 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 Staffordshire or who has acted in the same development.
Is it best to instruct a Staffordshire conveyancing solicitor based in the area that I am hoping to buy? We have a good friend who can execute the legal work however his firm is located over three hundred miles drive away.
The primary upside of using a local Staffordshire conveyancing practice is that you can pop in to execute documents, deliver your identification documents and pester them if necessary. Having local Staffordshire know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and the majority were happy that should outweigh using an unknown Staffordshire conveyancing solicitor solely due to them being Staffordshire based.
I have just started marketing my 2 bed apartment in Staffordshire. Conveyancing lawyers have not yet been instructed, however I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as normal as all rents and service invoices should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Staffordshire - Sample of Questions you should consider before Purchasing
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The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders have control and even though a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. Plenty Staffordshire leasehold properties will incur a service charge for maintenance of the block set on behalf of the landlord. Should you purchase the apartment you will have to meet this charge, usually quarterly during the year. This could be anything from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay annual, this is usually not a significant sum, say around £50-£100 but you need to enquire it because on occasion it could be many hundreds of pounds.