Please help. My Stamford lawyer is assuring me that he is legally obliged toconduct Stamford conveyancing searches becausethe firm are on the Virgin Moneyconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Stamford conveyancing searches.
We note that you have a post code search directory identifying solicitors on the Bank of Ireland conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in Stamford?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stamford.
We are buying a terrace house in Stamford. We would like to carry out an extension to the side at the property.Will legal investigations on the property involve checks to determine if these works were previously refused?
Your solicitor should check the registered title as conveyancing in Stamford will sometimes reveal restrictions in the title documents which restrict certain works or need the consent of a 3rd party. Many extensions need local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I am the single recipient of my late father’s estate with all property in now in my sole name, including the my former home in Stamford. The Stamford property was put into my name in April. I now wish to sell up. I do know about the CML six month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the house in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Some banks would take a sensible view as this obligation is primarily there to capture subsales or the flipping of property.
We have agreed to purchase a house in Stamford. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
Given that your lender is TSB your lawyer must comply with the formal instructions set out in Section two of UK Finance Lenders’ Handbook for TSB. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to TSB where a lease fails to meet these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Stamford.
About to purchase a new build flat in Stamford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Stamford
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are architect prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Stamford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Stamford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stamford you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Completion is due on our sale of a £475,000 maisonette in Stamford next Wednesday. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stamford?
Stamford conveyancing on leasehold apartments nine out of ten times involves administration charges raised by management companies :
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Addressing pre-exchange enquiries
Where consent is required before sale in Stamford
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Stamford Leasehold Conveyancing - Sample of Questions you should consider before buying
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How much is the ground rent and service charge? Are any of leasehold owners in dispute over their service charge liability? Best to be warned whether fixing the lift or some other significant cost is due shortly that will be shared amongst the leasehold owners and will materially increase the the maintenance costs or result in a one time payment.