My best friend’s brother is a conveyancer. I hope that I'll be able to get preferential fee for conveyancing, but if not, what kind of figure should I be expecting for conveyancing in Stone?
It’s prudent to request 3 or more like-for-like conveyancing estimates. Make use of our comparison tool on this site. Whilst amounts may contrast greatly but the service one can expect differ between solicitors as is true with most professions.
AssumingI were to purchase a straightforward housein Stone for cash and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Stone?
The sole reduction in fees you would make on is the Stone conveyancing searches. Your conveyancer still got to do everything else - money laundering, correspond with your sellers conveyancer, SDLT return, register the property etc. You might save a bit for them not having to register a mortgage however it will not be significant.
Can your site be used to recommend a Conveyancing solicitor in Stone even where I’m not purchasing or selling a house, for instance where I wish to acquire an office in Stone with a loan from Platform Home Loans Ltd?
The service is primarily there to locate residential conveyancing solicitors in Stone but we have recorded towards the end of this page a few Stone commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they are also authorised to represent Platform Home Loans Ltd
The mortgage over my property is with Virgin Money for my property in Stone. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money prior to renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will allow you to rent 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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
Completion of my remortgage has taken place for my property in Stone. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Stone bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Stone conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend in accordance with their published requirements. I have no idea who is right.
The property lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am looking for a leasehold apartment up to £195,000 and found one round the corner in Stone I like with a park and station in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Stone for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I am hoping to sign contracts shortly on a leasehold property in Stone. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Stone should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Repair and maintenance of the premises The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. The length of the lease term. You should receive guidance as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years Details of the parties to the lease, for instance these could be the lessee, head lessor, landlord
I acquired a split level flat in Stone, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Stone with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2083
You have 59 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.