We went with a high street solicitor for our conveyancing in Stansted last week. Upon checking the Terms and Conditions I noteI am responsible for charges even if our purchase aborts. Should I go with them or instruct an on-line conveyancing company promoting no completion no charge conveyancing in Stansted?
Generally there is a concession along the lines that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to offset the transactions that do not proceed. Do bear in mind that these deals rarely protect you from expenditure e.g. Stansted conveyancing search costs.
Our son-in-law is about to exchange on a newly built flat in Stansted with a home loan from UBS. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Have just purchased a repossessed house at auction in Stansted. Conveyancing is necessary. What happens now?
Having exchanged you now have to choose a conveyancing practitioner as a matter of priority as you now have a pending a drop dead date to complete the property. An auction property will have a corresponding auction pack. This should include evidence of title and search results. In the case of leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You must give this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds in order to complete on the date specified in the contract.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Stansted solicitor on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
Completion of my remortgage has taken place for my property in Stansted. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
three months have gone by since my purchase conveyancing in Stansted concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Stansted differ for new build properties?
Most buyers of new build premises in Stansted contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Stansted usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Stansted or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Stansted is the location of the property. Can you offer any assistance?
Flying freeholds in Stansted are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stansted you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stansted may ascertain 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.