Completed the sale of my flat in Stanley last March yet the purchaser is Skype messaging me complaining that her conveyancer needs to hear from mine. What should have happened following completion?
After completion of your disposal your solicitor should forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. If applicable, your conveyancer should also confirm that the home loan has been redeemed to the buyers lawyers. There is unlikely to be post completion formalities specific conveyancing in Stanley.
I am purchasing a property and require a conveyancing solicitor in Stanley who is on the Alliance & Leicester solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Stanley. We dont recommend any particular firm.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Stanley I like with a park and station in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Stanley for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Should I be suspicious about brokers that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a High Street Stanley conveyancing company?
As with lots of service providers, often suggestions from relatives can be worth their weight in gold. Yet there are many people with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks may recommend conveyancers to instruct. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the endorsement. You are free to select your preferred lawyer. You need to be aware that the majority of lenders have an approved list of lawyers you have to use for the lender related work in your transaction.
My partner has suggested that I appoint his conveyancers in Stanley. Should I choose my own property lawyer?
Much as we are happy to recommend a Stanley conveyancing lawyer it’s preferable to find a conveyancing solicitor is to get recommendations from friends or relatives who have experience in using the solicitor that you are considering.
I own a leasehold flat in Stanley. Conveyancing was finished in 2010. I have heard that I mustn’t let the lease length fall too low. Is this correct?
Stanley leasehold properties are for a fixed term - normally 99 years when they started. However many flats in Stanley were built or converted 35 or more years ago and so such leases now have under 80 years left to run. This may seem like plenty of time but Banks, Building Societies and other mortgage companies on the whole require leases to have a minimum of 75 years unexpired to adequate security. This means that when you come to sell the property you will need a lease extension if you are nearing eighty years. To enhance your property value you should be thinking about whether to extend your lease long before you come to sell it. There are also advantages to doing so before the lease reaches even 80 years as when the lease falls below eighty years the premium to be paid to extend starts to increase.