As someone not used to the Stoke Gifford conveyancing process what’s your top tip you can give me for the ownership transfer in Stoke Gifford
You may not hear this from too many lawyers but conveyancing in Stoke Gifford or throughout England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there is an abundance of opportunity for confrontation between you and other parties involved in the home moving process. For example, the seller, estate agent and on occasion your bank. Choosing a solicitor for your conveyancing in Stoke Gifford should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the legal process whose role it is to act in your best interests and to protect you.
On occasion a third party with a vested interest may attempt to sway you that you should follow their advice. For example, the property agent may claim to be helping by claiming that your solicitor is dragging his heels. Or your mortgage broker may try to convince you to do take action that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have an AIP. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to instruct a Stoke Gifford based conveyancing firm?
Do check but the the probability is that appoint one of their panel solicitors if you accept the "fee-free" deal. Call the bank to explore if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Stoke Gifford.
We are purchasing a apartment in Stoke Gifford. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to put funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Last month we had a mortgage agreed in principle with TSB. Stoke Gifford conveyancing solicitors were chosen. How long does it take for TSB to issue the offer to the lawyer?
There is no definitive answer here. Have TSB completed the survey? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After weeks of negotiation I have agreed a price on an apartment in Stoke Gifford. My financial adviser suggested a conveyancer. I paid an upfront payment of £175. A few days later, the conveyancing practitioner contacted me to say that they were not on the Co-operative 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 Co-operative 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.
Are there restrictive covenants that are commonly picked up during conveyancing in Stoke Gifford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Stoke Gifford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £305k and identified one near me in Stoke Gifford I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Stoke Gifford suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Do you have any advice for leasehold conveyancing in Stoke Gifford from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Stoke Gifford can be avoided where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Stoke Gifford state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you fail to have the consents in place do not communicate with the landlord without checking with your lawyer before hand. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved. If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a duplicate share certificate can be a lengthy formality and frustrates many a Stoke Gifford home move. Where a new share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
I bought a studio flat in Stoke Gifford, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Stoke Gifford with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2095
With only 70 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 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 comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.