Why is leasehold purchase conveyancing in Stallingborough is more expensive?
In short, leasehold conveyancing in Stallingborough and Lincolnshire usually necessitates extra hours of investigation compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord concerning the service of appropriate notices, securing up-to-date service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Two weeks ago we had a mortgage agreed in principle with HSBC. Stallingborough conveyancing practitioners have been selected. How long does it take for HSBC to forward the offer to the solicitor?
There is no definitive answer here. Have HSBC done the valuation? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am buying a property in Stallingborough. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that your lender is Coventry BS your lawyer must check the formal instructions set out in Part 2 of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Coventry BS where a lease does not meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not isolated to Stallingborough.
I have paid off my mortgage with UBS. I assume I don't need a Stallingborough property lawyer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
My wife and I are close to exchanging contracts on the sale of our home in Stallingborough and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Stallingborough lawyer would know this is not the case. It does beg the question why the buyers are using a national conveyancing practice as opposed to a conveyancing solicitor in Stallingborough. Having lived in Stallingborough for many years we know that this is a non issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I have a terraced Victorian house in Stallingborough. Conveyancing lawyer represented me and Virgin Money. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the matching address. Is it worth asking Virgin Money to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stallingborough and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
I'm buying my first flat in Stallingborough benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of additionals instead. The property agent advised me not to tell my solicitor about this deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Why can I not complete my conveyancing in Stallingborough on Easter Monday?
This is due to the fact that on completion the purchase price needs to pass between the banks of the purchaser and owner’s conveyancing practitioner and at present this can only take place on a working day. So you can't complete on a saturday or sunday either.