Should conveyancers ask for money up-front when it comes to conveyancing in Stansted?
If you are buying a property in Stansted your lawyer will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the deposit is payable against the purchase price then this will be required immediately in advance of contracts are exchanged. The final balance that is needed should be transferred shortly before completion.
I'm in the process of looking at flats in Stansted and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Lloyds.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are getting a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
I currently have a mortgage with Co-operative for my property in Stansted. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
You must advise Co-operative before letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. You need not do this via a Co-operative conveyancing panel lawyer.
I had an offer accepted on a property in Stansted on 18/11/2024, valuation was booked 3 days later, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Co-operative and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Co-operative conveyancing panel. Are Co-operative entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I are close to exchanging contracts on the sale of our property in Stansted and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a national conveyancing practice rather than a conveyancing solicitor in Stansted. Having lived in Stansted for six years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
It has been 4 months following my purchase conveyancing in Stansted took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 property 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.
I am looking for a conveyancing lawyer in Stansted for my remortgage. Can I review a firm’s complaints history with the profession’s regulator?
You may read documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may recorded call for training requirements.
I've recently bought a leasehold house in Stansted. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Stansted Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
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Best to be warned if a new roof is being put on or some other significant cost is anticipated that will be shared by the tenants and may well dramatically impact the level of the maintenance costs or require a one off payment. It would be wise to discover as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the upkeep of the common parts. Don't be afraid to ask prospective neighbours whether they are happy with them. On a final note, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending the funds.