As a first time buyer what is the most important piece of guidance you can impart regarding purchase conveyancing in Stone Cross?
You may not hear this from too many lawyers but conveyancing in Stone Cross and elsewhere in East Sussex is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of room for conflict between you and other parties involved in the house moving process. E.g., the vendor, selling agent and even potentially the bank. Appointing a lawyer for your conveyancing in Stone Cross is a critical decision as your conveyancer is your adviser, and is the ONE party in the legal process whose interest is to act in your legal interests and to protect you.
Every so often a third party with a vested interest will try and persuade you that you should follow their advice. For instance, the selling agent may claim to be helping by suggesting your solicitor is dragging his heels. Or your financial adviser may try to convince you to do something that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Please explain the implications if my lawyer’s firm is expelled from the Aldermore Solicitor panel ahead of completing my conveyancing in Stone Cross?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Stone Cross. 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.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Stone Cross
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. 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.
I'm remortgaging my current home to a BTL mortgage with Yorkshire Building Society and intend to use the remaining equity as a deposit on further property. The neighborhood we are interested in is Stone Cross. Will your solicitors be able to act for the two mortgage companies and tie in the conveyances?
Make use of our search tool on this page to be sure that the lawyers are approved by both lenders. On the basis that they are your solicitor should be able to tie up the two deals but you should have a chat with you lawyer and make apparent your desired outcome and requirements.
Last September I purchased a leasehold flat in Stone Cross. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Stone Cross - A selection of Queries Prior to buying
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Does the lease contain onerous restrictions? Most Stone Cross leasehold properties will incur a service charge for the upkeep of the block set on behalf of the freeholder. Where you buy the flat you will have to meet this amount, normally in instalments throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a ground rent for you to pay yearly, normally this is not a large figure, say approximately £50-£100 but you should to enquire as sometimes it could be prohibitively expensive.
I am looking for Stone Cross conveyancing quotes online. Can I be sure that all the Stone Cross law firms that are identified on your directory are on the bank conveyancing panel?
The law firms on our directory have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Stone Cross firm being on the bank conveyancing panel is not accurate.