Is there a reason why leasehold purchase conveyancing in Stoke Park is more expensive?
Stoke Park leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather use a high street conveyancing solicitor in Stoke Park?
Do check but the the probability is that appoint one of their panel conveyancers if you take up the "fee-free" incentive. Speak to the bank and ask if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Stoke Park.
We previously selected conveyancers located in Stoke Park on the Leeds Building Society solicitor panel. They are now charging me a supplemental sum for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your solicitor is entitled to levy a fee for this. This charge is not set by Leeds Building Society but by your Stoke Park conveyancing practitioner. Some firms on the Leeds Building Society panel will charge an ‘acting for lender’ fee but plenty of practices include it on their overall fee.
How can we tell if a Stoke Park conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Stoke Park getting recommendations is a good start. 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 which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your transaction.
I am expecting a OIP from Co-operative this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Stoke Park solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stoke Park solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
My wife and I are planning on selling our home in Stoke Park and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A high street Stoke Park conveyancer would know that there is no such problem. It does beg the question why the purchasers instructed a nationwide conveyancing practice rather than a conveyancing solicitor in Stoke Park. We have lived in Stoke Park for three years we know of no issue. Should we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Due to the advice of my in-laws I had a survey completed on a house in Stoke Park before appointing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks will refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stoke Park. Conveyancing may be slightly more expensive based on your lender's requirements.
I would like to let out my leasehold apartment in Stoke Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Stoke Park conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek consent via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I own a ground floor flat in Stoke Park, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar flats in Stoke Park with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2085
With only 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.