We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would much rather instruct a Stockwood based conveyancing firm?
You should check but the the likelihood is that give you one of their panel conveyancers if you take up the "fee-free" incentive. Speak to the mortgage company to check if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Stockwood.
four months have elapsed following my purchase conveyancing in Stockwood completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 asset 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.
Just had an offer accepted on a new build apartment in Stockwood. Conveyancing is necessary evil 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.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Stockwood
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are architect prepared.
I am selling my property. My past lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Stockwood if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Stockwood. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am attracted to a couple of flats in Stockwood which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.
I purchased a leasehold flat in Stockwood, conveyancing having been completed in 2005. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Stockwood with over 90 years remaining are worth £190,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2087
With just 62 years unexpired we estimate the premium for your lease extension to range between £17,100 and £19,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
Do online conveyancing organisations undertake everything a local Stockwood solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Stockwood?
If you choose an online conveyancer they will cover all the things your Stockwood solicitor would cover.