At long last a mortgage offer from Santander for the remortgage of my 4 room maisonette is coming by the end of next week. Could you recommend a cheap conveyancing solicitor in Stansted?
You have come to the wrong place to search for the lowest fares for conveyancing solicitors in Stansted. We can offer you excellent value conveyancing but our intention is not to advertise as being the cheapest. Do not be fooled by organisations offering £99 conveyancing in Stansted. Optimistically, in deciding on low cost conveyancing, you will get your money’s worth and at worst you will end up with a hefty uplift in additional fees and still not receive the service expected.
I am the registered owner of a freehold residence in Stansted but still pay rent, why is this and what is this?
It is rare for properties in Stansted and has limited impact for conveyancing in Stansted 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 creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Various internet forums that I have come across warn that are a common cause of hinderance in Stansted house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Stansted.
I am looking for a ground for flat up to £305k and identified one round the corner in Stansted I like with amenity areas and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Stansted for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I wish to sublet my leasehold apartment in Stansted. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Stansted do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I own a ground floor flat in Stansted, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Stansted with over 90 years remaining are worth £211,000. The ground rent is £45 per annum. The lease expires on 21st October 2092
With 67 years unexpired the likely cost is going to range between £10,500 and £12,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Do all mortgage companies provide you with an approved list of Stansted solicitors? How do you know who is on the bank conveyancing panel?
Stansted firms and firms carrying out conveyancing in Stansted themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the mortgage company directly.