Just been in touch with my conveyancing lawyer in Stansted who completed the legal work 18 months ago requesting a conveyancing estimate based on the same type of house move (a leasehold premises and a freehold property) of almost identical values with a home loan from HSBC Bank. I am now being charged double. Am I right to be tempted to shop around for a cheaper internet firm of conveyancing solicitor?
The costs illustration is slightly on the steep side. Where you are happy to expend time scrutinising costs you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, providing that you were satisfied with the conveyancing the firm provided you mightlive to regret choosing an a cheaper lawyer. Remember to ensure the firm can act for HSBC Bank. Do make use of our search tool to choose a Stansted conveyancing firm on the HSBC Bank conveyancing panel, which can often include conveyancing solicitors in Stansted.
My husband and I intend to remortgage our penthouse in Stansted with Coventry BS. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Coventry BS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
What is the difference between a licensed conveyancer and conveyancing solicitor in Stansted
Two types of professional can execute conveyancing in Stansted namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that you need to complete the disposal or purchase of property. Both are duty bound to carry out Stansted conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be properly administered and that all requirements and steps should be correctly attended to.
When it comes to mortgage companies such as Kent Reliance, do Stansted property lawyers incur a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
My husband and I are spending time looking at apartments in Stansted and I am about to put in an offer. Is it too early to have a solicitor in place? I am planning to take a home loan with TSB.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
My husband and I are a fortnight into a residential purchase having been recommend to conveyancers by the selling agent to handle our conveyancing in Stansted. We are not happy. Could you help me find new conveyancers?
A lawyer would have to be really bad to suggest diss instructing them. Has your mortgage been issued? In the event that it has you will need to make them aware of the new contact details and have the offer are re-sent. Your new solicitor ideally needs to be on the mortgage company panel to avoid supplemental charges and frustration. That should be your first question of the new lawyers. Our search tool will help you find a bank approved solicitor for your conveyancing in Stansted
Can you provide any advice for leasehold conveyancing in Stansted from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Stansted can be reduced where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives. Many landlords or Management Companies in Stansted charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Stansted. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Stansted state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you dont have the consents to hand you should not contact the landlord without contacting your lawyer in the first instance.
I bought a 1 bedroom flat in Stansted, conveyancing having been completed in 1998. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Stansted with over 90 years remaining are worth £201,000. The ground rent is £45 yearly. The lease ceases on 21st October 2089
With just 64 years unexpired we estimate the premium for your lease extension to span between £14,300 and £16,400 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Is there a reason that Stansted conveyancing costs are higher for leasehold and freehold properties?
Leasehold conveyancing in Stansted will often involve additional due diligence such as investigating the lease, corresponding with the landlord, obtaining up to date rent receipts, landlord’s consents, management company’s accounts etc.