My IFA requires my Stone solicitor’s panel reference for the Nat West conveyancing panel. Can you suggest how I discover this. I have called my local Stone branch but they have not responded to me.
The sensible thing to do is ask for this information from your Stone conveyancing practitioner . Most Stone conveyancing practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
Can you recommend a Clydesdale sanctioned Stone conveyancing lawyer finish our home move within two weeks? Would it be better to use a local Stone solicitor or an online firm?
We can recommend some very good Stone conveyancing firms. Another option is to visit the main road in Stone. Visit two or three law practices and request to speak with a conveyancing solicitor for a fee estimate. Mention your requirements together with your reasons and get a commitment on speed. Select the lawyer that genuine.
I had intended to instruct a conveyancing solicitor in Stone for our house move. Our financial adviser informed us that our bank Nationwide Building Society won't deal with them. Surely this is unfair competition?
A lender can require a panel solicitor act for it. You would be liable to bear the cost of this. Try using our database to choose a solicitor to carry conveyancing in Stone on the Nationwide Building Society member panel.
2 months have elapsed following my purchase conveyancing in Stone concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Stone with a loan from Birmingham Midshires. The sellers would not move on the price so I negotiated £7000 of extras instead. The sale representative advised me not inform my solicitor about the side-deal as it would adversely affect my loan with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking at a couple of maisonettes in Stone both have in the region of 50 years left on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Stone is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most buyers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Stone conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.
Leasehold Conveyancing in Stone - A selection of Queries before buying
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How many of the leaseholders are in arrears for their maintenance charge payments? Make sure you discover if the the lease contains any unreasonable restrictions in the lease. By way of example some leases prohibit pets being permitted in certain buildings in Stone. If you like the flatin Stone however your dog is not allowed to live with you then you have a very difficult determination. You should want to discover as much as you can concerning the company managing the building as they can either make your life much simpler or uncomfortable. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to every day issues such as the upkeep of the communal areas. Enquire of other tenants whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money.