Completed the sale of my flat in Stamfordham last August yet the purchaser is telephoning daily to moan that their conveyancer is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
After completion of your sale your solicitor is duty bound to forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. Where relevant, your solicitor should also confirm that the home loan has been paid off to the purchasers conveyancers. There is unlikely to be post completion steps unique to conveyancing in Stamfordham.
We wanted to use a property lawyer in Stamfordham for our house move. Our financial adviser has since advised us that our bank Accord Mortgages Ltd won't deal with them. Surely this is unfair competition?
A mortgage company will insist on an approved solicitor act for it. You would be liable to meet the cost of this. Please make use of our tool to get a quote from a solicitor to carry conveyancing in Stamfordham on the Accord Mortgages Ltd approved list of solicitors.
I'm buying my first flat in Stamfordham with a mortgage from The Mortgage Works. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my solicitor about this deal as it may put at risk my loan with the bank. Is this normal?.
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.
My brother has suggested that I use his lawyers for conveyancing in Stamfordham. Should I choose my own solicitor?
Much as we are happy to recommend a Stamfordham conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek feedback from friends or relatives who have actually experience in using the conveyancer that you are considering.
I am looking at a couple of apartments in Stamfordham both have about fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Stamfordham is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Stamfordham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Stamfordham - Examples of Questions you should consider before buying
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How many of the leaseholders are in arrears for their maintenance charge payments? Its a good idea to discover as much as possible about the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters such as the tidiness of the communal areas. Ask other people what they think of their management. On a final note, investigate as to the dates that the maintenance charges are due to the appropriate party and precisely what you get for your money. What prohibitions exist in the Stamfordham Lease?
My boyfriend is purchasing a leasehold flat in Stamfordham. He has received an estimate by the lawyer connected to the estate agents and it came to £1245 . It was fifteen years ago since I sold and bought a home and it cost was £440. Have fees really gone up that much?
You should contact two or three local Stamfordham conveyancing firms requesting estimates. You should base your choice not just on cost, but on promptness and on how comprehensive the response is.