My fiancee and I are buying our first property. Our conveyancer has calledto see if we would like to order extra conveyancing searches. We are really unsure what's needed for conveyancing in Stanstead Abbotts
The number and type of Stanstead Abbotts conveyancing searches should be dictated entirely on the premises, the location, the probability of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What is important is that you properly appreciate what information each search could provide. You may then make a decision if you personally think you need that search. If unclear, ask the conveyancer to recommend.
I purchased a freehold residence in Stanstead Abbotts but nevertheless pay rent, why is this and what is this?
It is rare for properties in Stanstead Abbotts and has limited impact for conveyancing in Stanstead Abbotts but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
The Stanstead Abbotts conveyancing firm that I recently instructed on my purchase in Stanstead Abbotts have suddenly closed. I chose them because I needed a solicitor on the Yorkshire BS conveyancing panel and my previous Stanstead Abbotts lawyer was not. I wrote them a cheque for two hundred pounds in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Due to the advice of my in-laws I had a survey completed on a property in Stanstead Abbotts in advance of retaining solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders may not give a loan on this type of house.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can check 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 Stanstead Abbotts. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stanstead Abbotts to see if the conveyancing will be more expensive.
I need to instruct a conveyancing solicitor in Stanstead Abbotts for my purchase. Is there any facility to review a firm’s complaints history with the legal regulator?
You may see documented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator sometimes recorded call for training purposes.
What are your top tips when it comes to choosing a Stanstead Abbotts conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Stanstead Abbotts conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Stanstead Abbotts conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
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What volume of lease extensions have they carried out in Stanstead Abbotts in the last year? If the firm is not ALEP accredited then why not?
Stanstead Abbotts Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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How many of the leaseholders are in arrears for their service charge payments? The prefered form of lease arrangement is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and even though a managing agent is frequently employed where the building is larger than a house conversion, the managing agent is directed by the tenants. Is anyone aware of any major works on the horizon that will increase the service fees?