AssumingI were to buy a simple residential homein Stockport mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Stockport?
The only reduction in fees you would make on is the Stockport conveyancing searches. A lawyer is obliged to do the vast majority of work - money laundering, correspond with the sellers solicitor, SDLT return, register the title etc. A marginal saving might be made by not having to register a charge however it won't be significant.
I am selling my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being difficult. The Stockport solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase apartment in Stockport. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stockport property lawyer is on the Principality conveyancing panel.
I have instructed a Stockport property lawyer having made sure that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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 conveyancing practitioner 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 Stockport postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Stockport.
I am looking for a leasehold apartment up to £245,000 and identified one close by in Stockport I like with a park and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Stockport suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage that many years will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I need to instruct a conveyancing solicitor for some conveyancing in Stockport. I've chance upon a web site which looks to be the perfect solution If it is possible to get all formalities completed via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Stockport. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Stockport ?
The majority of houses in Stockport are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Stockport in which case you should be shopping around for a Stockport conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.
I invested in buying a 2 bed flat in Stockport, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Stockport with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2090
With just 65 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
The lawyers conducting our conveyancing in Stockport has sent papers to review that show the land is unregistered with epitome documents. How can it be that the property not yet recorded at HMLR?
Although the vast majorities of properties in Stockport are now registered with the Land Registry there are still some that remain unregistered. Any property in Stockport that has been remortgaged since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Stockport property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Stockport conveyancing practitioners should be capable of dealing with this type of conveyancing but if any uncertainty reigns the standard proposition these days seems to be for the vendor’s solicitor to deal with the registration formalities first and subsequently sell - this undoubtedly cause a protracted transaction.