Is it possible for conveyancing in Stoke Park to be done in less than 3 weeks?
In the event that you are under time constraints to exchange it is highly recommended that your solicitor is familiar with the location as they will have local contacts and knowledge. It is possible that they may have conducted previousproperties in the same road. Therefore consider using a Stoke Park conveyancing solicitor. In addition, be sure that the lawyer is on the lender panel. It is claimed that 18% of Stoke Park conveyancing transactions are frustrated or jeopardised after discovering a purchaser’s conveyancer was not on their banks list of approved solicitors. In many cases this discovery resulted in the legal process being held up by as much as 21 days. It is understood that this issue affects in the region of 100,000 home moves every year. Many Stoke Park conveyancing firms can not represent certain banks so do check at the outset.
What does my ID and proof of funds have anything to do with my conveyancing in Stoke Park? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Stoke Park conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill showing your correct address.
In accordance with Money Laundering Regulations, conveyancers are required to ascertain not just the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
is it true that all Stoke Park solicitor firms on the HSBC conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the HSBC approved list of solicitors they would need to be governed by the SRA. The majority of banks do permit licenced conveyancers on their panel and in that case the practice would be governed by the Council of Licensed Conveyancers.
I have paid off my mortgage with Co-operative. I assume I don't need a Stoke Park solicitor on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
After shopping around on the internet I have found a Stoke Park conveyancing practitioner having checked that they are on the Skipton conveyancing panel. Does my lawyer arrange the survey of the property?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton 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 Park 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.
I am buying a new build flat in Stoke Park. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Stoke Park
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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 supply a car parking plan.
Is it best to appoint a Stoke Park conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can carry out the conveyancing but his firm is located 400kilometers away.
The benefit of a local Stoke Park conveyancing firm is that you can attend the office to sign paperwork, deliver your identification documents and pester them if necessary. Having local Stoke Park know how is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and in the main were impressed that must trump using an unfamiliar Stoke Park conveyancing solicitor solely due to them being based in the area.
I have just started marketing my 2 bed apartment in Stoke Park. Conveyancing solicitors are to be appointed soon, but I have just had a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as usual given that all rents and service payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a basement flat in Stoke Park, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Stoke Park with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2085
You have 59 years left to run the likely cost is going to be between £20,900 and £24,200 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.