Recently contacted my conveyancing solicitor in Stevenage who conducted the legals two years ago asking for a conveyancing quote based on the same type of house move (a leasehold property and a freehold premises) of almost identical values with a home loan from Norwich and Peterborough Building Society. I am now being quoted double. Stick with what I know or should I seek out a cheaper online property lawyer?
The estimate does seem a tad overpriced. If you are content to spend time comparing costs you could reduce the fees slightly by perhaps a hundred pounds. On the other hand, assuming were content with the conveyancing the firm provided you mightcome to regret opting for an an unknown lawyer. If is important to check that the firm can also act for Norwich and Peterborough Building Society. You can employ our search tool to locate a Stevenage conveyancing firm on the Norwich and Peterborough Building Society approved list of lawyers, which can often include conveyancing solicitors in Stevenage.
Is it realistic for conveyancing in Stevenage to be concluded in under a month?
Where you are under time constraints to exchange we would recommend that your lawyer is familiar with the area as they will have local contacts and know-how. It is even conceivable that they may have handled previoushomes in the same road. You would be best advised to use a Stevenage conveyancing firm. In addition, ensure that the conveyancing firm is on the member panel. It is claimed that just under twenty per cent of Stevenage conveyancing deals are held up or jeopardised after finding out that a buyer’s lawyer was not on their mortgage lender’s member panel. This can often result in the legal transfer of property being delayed by as much as 21 days. It is understood that this issue affects in the region of one hundred thousand home moves every year. Almost all Stevenage conveyancing practices can not represent certain banks so do check as early as possible.
A colleague informed me that in buying a property in Stevenage there may be various restrictions prohibiting external alterations to a property. Is this right?
We are aware of a number of properties in Stevenage which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Stevenage should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I recently had an offer accepted on a house in Stevenage. My mortgage broker suggested a solicitor. I paid an advanced payment of £200. A few days later, the conveyancer called me embarrassingly acknowledging that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
RBS have agreed my mortgage in principle, my offer on a property in Stevenage has been accepted, now what?
The property agent will wish to know who your solicitors are (be sure the lawyers are on the lender’s approved list). Call up RBS or the broker and complete any appropriate paperwork. RBS will appoint a valuer who will get in touch with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. RBS will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Stevenage.
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial site in Stevenage?
Its becoming the norm that commercial conveyancing solicitors in Stevenage will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Stevenage. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Stevenage.
For every commercial conveyancing transaction in Stevenage it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Stevenage commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Stevenage.
How does conveyancing in Stevenage differ for new build properties?
Most buyers of new build residence in Stevenage approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Stevenage typically acquire the land, 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 used to new build conveyancing in Stevenage or who has acted in the same development.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Stevenage. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Stevenage ?
Most houses in Stevenage are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Stevenage so you should seriously consider looking for a Stevenage conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.
I bought a 2 bed flat in Stevenage, conveyancing having been completed in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Stevenage with an extended lease are worth £170,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2104
You have 79 years unexpired the likely cost is going to range between £7,600 and £8,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.