I am buying a ground floor flat in Stockbridge. My Solicitor has never been on on the bank solicitor list. Can I still retain my Stockbridge conveyancing solicitor notwithstanding that they are excluded from the mortgage company approved list?
Various options include
- Complete the deal with your existing Stockbridge conveyancing practitioner but your mortgage company will need to retain a lawyer on their approved list. The net result is additional fees together with potential delay.
- Appoint a new conveyancer to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your conveyancer to pull out all the stops to get accepted on the lender’s conveyancing panel
We had selected conveyancing lawyers with offices in Stockbridge on the Clydesdale solicitor approved list. They are now charging me a further amount for handling the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancer may charge a fee for this. The charge is not dictated by Clydesdale but by your Stockbridge property lawyer. Plenty of firms on the Clydesdale panel will quote an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
It is not clear whether my bank requires a lease extension. I have called my Stockbridge bank branch on a couple of occasions and was told it wasn't a problem and they will lend. My Stockbridge conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
Your lawyer must comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After shopping around on the internet I have found a Stockbridge conveyancing practitioner having checked that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Stockbridge postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Stockbridge.
About to purchase a new build apartment in Stockbridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Stockbridge
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the advice of my in-laws I had a survey completed on a house in Stockbridge before retaining lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies may refuse to issue a mortgage on this type of home.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stockbridge. Conveyancing will be smoother if you use a solicitor in Stockbridge especially if they are familiar with such properties in Stockbridge.
We expect to complete the sale of our £300,000 garden flat in Stockbridge on Wednesday in a week. The freeholder has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Stockbridge?
Stockbridge conveyancing on leasehold maisonettes more often than not involves the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to do so. They are at liberty to levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I bought a basement flat in Stockbridge, conveyancing formalities finalised in 2011. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Stockbridge with over 90 years remaining are worth £179,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2082
You have 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Are all Stockbridge legal practices on every bank conveyancing panel?
You can use our search tool or you can drop into your high street lender branch in Stockbridge. the probability is that they will be in a position to recommend some approved conveyancing solicitors in Stockbridge