Me and my partner are purchasing a 2 bedroom apartment in Stoke Park with a mortgage. We like our Stoke Park solicitor, however the bank advise she’s not on their "panel". It appears that we have little option but to appoint one of the bank panel solicitors or keep our Stoke Park property lawyer and pay for one of their panel firms to represent them. We consider that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Stoke Park conveyancing solicitor to apply to be on the conveyancing panel.
I am buying a terrace house in Stoke Park. The intention is to convert the garage to a playroom at the property.Will the conveyancing process involve enquiries to determine if these alterations are allowed?
Your solicitor should review the registered title as conveyancing in Stoke Park will occasionally reveal restrictions in the title documents which prevent categories of alterations or require the consent of another owner. Some works call for local authority planning permissions and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
The mortgage over my property is with Coventry BS for my property in Stoke Park. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Coventry BS must be informed of your intention in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
It is unclear whether my mortgage offer requires a lease extension. I have called my Stoke Park building society branch on numerous occasions and was told they are content with the situation and they will lend. My Stoke Park conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I have no idea who is right.
As long as the conveyancer is on the mortgage company approved list, she or he must comply with the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have been told that property searches are the primary reason for hinderance in Stoke Park house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Stoke Park.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Stoke Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Stoke Park. 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…’
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. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Stoke Park
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared.
I am using a search engine for the words conveyancing in Stoke Park it brings up many conveyancersin the vicinity. How do I determine which is the right solicitor for my move?
The best method of seeking a suitable conveyancer is through a personal testimonial, so ask friends and those you trust who have purchased a property in Stoke Park or a respected estate agent or mortgage broker. Costs for conveyancing in Stoke Park vary, so it's sensible to request at least four fee calculations from different property lawyers. Make sure that you know that the fees are fixed.