My friend's brother is a conveyancer. I hope that I will receive friends and family fee for conveyancing, but if not, what kind of fees should I be paying for conveyancing in Stamford?
You should contrast pricing. Do use our search tool on this site. You will notice that quotes seem to be different but service levels do are distinct between solicitors as is the case with the vast majority of professional services.
I am about to put a bid on a leasehold property in Stamford. The property agents tell me that it is the norm for flats in Stamford to have less than 75 years remaining. I am getting a loan with Bank of Ireland. Is this going to be a problem if the lease has Seventy One years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 30/3/2025 the requirements read as follows :
Is it correct that all Stamford CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved solicitors?
A selection of banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
We have a mortgage agreed in principle with Leeds Building Society. Stamford conveyancing lawyers were instructed. How long does it take for Leeds Building Society to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have Leeds Building Society conducted the survey? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After what seems like an age I have had an offer on a maisonette in Stamford agreed to, the vendors do however have a dependent purchase. The vendors have offered on somewhere, but it’s not yet agreed to, and are looking at other flats booked. I have selected a high street conveyancing solicitor in Stamford. What do I do now? When should I get the mortgage application with Bank of Ireland started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then valuation, Stamford conveyancing search costs, etc). The first thing to do is ensure that your conveyancing practitioner is on the Bank of Ireland approved list. Concerning the next steps this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. During a buoyant market the majority of home buyers would apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they request their conveyancer to move forward with searches.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Stamford?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Stamford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey carried out on a property in Stamford in advance of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies may not give a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stamford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stamford to see if the conveyancing costs will increase in light of this.
Can you provide any top tips for leasehold conveyancing in Stamford with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Stamford can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers’ lawyers. If you have had conflict with your landlord or managing agents it is very important 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 a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 details of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled. The majority of landlords or managing agents in Stamford charge for supplying management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Stamford. You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is important at an early stage 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.
Stamford Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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What is the length of the lease? Be sure to investigate if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Stamford. If you love the apartmentin Stamford yet your dog is not allowed to make the move with you then you will be presented with a hard choice. Are there any major works in the planning that will add a premium to the service costs?