I am the sole recipient of my late mum's will with all property in now in my sole name, including the my former home in Stoke Gifford. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in December. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view mortgage companies take of it, depend on the lender as this provision is primarily there to pick up on subsales or the flipping of property.
Can I be sure that the Stoke Gifford conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Stoke Gifford seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer handling your conveyancing.
After shopping around on the internet I have found a Stoke Gifford conveyancing practitioner having made sure that they are on the Clydesdale conveyancing panel. Does my lawyer arrange the survey of the property?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale 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. You may wish to consider appointing your own Stoke Gifford surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Various internet forums that I have frequented warn that are the main cause of delay in Stoke Gifford conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Stoke Gifford.
I used Action Conveyancing a few years ago for my conveyancing in Stoke Gifford. Now, I need my documents but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Stoke Gifford of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Due to the input of my in-laws I had a survey completed on a house in Stoke Gifford prior to instructing conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks may refuse to give a loan on such a premises.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Stoke Gifford. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Stoke Gifford cover?
Stoke Gifford conveyancing for business premises incorporates a broad range of guidance, offered by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am looking at a couple of flats in Stoke Gifford which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Stoke Gifford is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Stoke Gifford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Stoke Gifford Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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Where a Stoke Gifford lease has fewer than eighty years it will affect the marketability of the property. Check with your mortgage company that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth discovering how much this would cost. For most Stoke Giffordlease extensions you would be required to have owned the premises for a couple of years before you are legally able to extend the lease. How many years remain on the lease?