Me and my partner are about to exchange on the purchase of a house in Staffordshire but as a consequence of wreckage from the recent storms I have managed to agree compensation from the vendor of six thousand pounds by way of a deduction in the price. This was going to be dealt with as part of the conveyancing process but Barclays are not allowing this. Should they have been notified?
Your solicitor that is on the Barclays conveyancing panel is required to inform Barclays of any amendments to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new solicitor for your conveyancing in Staffordshire.
I am helping my step-mother sell her flat in Staffordshire. Will the solicitor arrange an EPC or it is for me to see to?
Following the abolition of HIPs, EPC’s was kept a required element of selling a property. An energy performance certificate must be to hand prior to the property being placed on the market. It is not something that solicitors ordinarily organise. If you are instructing a Staffordshire conveyancing solicitor they may help arrange energy assessments due to their relationships with long established Staffordshire providers
Is it correct that all Staffordshire CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved practices?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Last month we had a mortgage agreed in principle with Santander. Staffordshire conveyancing lawyers are appointed. How long does it take for Santander to send the offer to the lawyer?
Some lenders take longer than others. Have Santander done the valuation? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
How does conveyancing in Staffordshire differ for newly converted properties?
Most buyers of new build property in Staffordshire come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Staffordshire tend to buy 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 conveyancers 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.
I have been on the look out for a leasehold apartment up to £245,000 and identified one near me in Staffordshire I like with amenity areas and transport links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Staffordshire for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
My husband and I are first time buyers - agreed a price, yet the selling agent informed us that the owners will only go ahead if we use the agent's recommended lawyers as they need an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Staffordshire
We suspect that the owner is unaware of this ultimatum. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Try to communicate with the sellers directly and make sure they understand (a)you are keen to buy (b)you are ready to go, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you intend to use your preferred Staffordshire conveyancing solicitors - as opposed tothose that will give the negotiator at the agency a referral fee or hit his conveyancing thresholds demanded by head office.
Can you provide any top tips for leasehold conveyancing in Staffordshire with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Staffordshire can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled. Many freeholders or Management Companies in Staffordshire levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Staffordshire. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Staffordshire state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such alterations. Where you fail to have the paperwork to hand do not contact the landlord without contacting your conveyancer in advance. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is below 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Staffordshire Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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Please note that where the lease has fewer than 80 years it will affect the value of the apartment. It is worth checking with your bank that they are happy with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would need to own the residence for two years before you are legally able to extend the lease. You should want to discover as much as you can about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to every day matters like the tidiness of the common parts. Ask other tenants what they think of them. Finally, find out the dates that the maintenance charges are due to the appropriate party and specifically what it includes. It would be prudent to discover if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Staffordshire. If you love the apartmentin Staffordshire but your cat is not allowed to move with you then you will be presented with a difficult compromise.