I am need of leasehold conveyancing for an apartment in a relatively new development (6 years built) in Stotfold. The vast majority the appartments have already been sold. Is it really necessary to order neighbourhood searches as part of conveyancing in Stotfold?
A big part of the Stotfold conveyancing process is the conveyancing searches. There are numerous companies delivering Stotfold conveyancing searches, as well straight from the local authority. These are usually referred to as personal search organisation due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authority.
We just had an offer accepted to purchase with Coventry BS. We have called around locally yet am unable to find a Stotfold conveyancing firm on the Coventry BS panel. Could you help?
You should make use of the find a lender approved solicitor tool on this site. Pick the building society and type Stotfold or your location and you will discover numerous solicitors offices in Stotfold or near you.
I have been told that property searches are the main cause of delay in Stotfold house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Stotfold.
Just bought a semi-detached house in Stotfold , how long will it take for the Land Registry to register my ownership? My Stotfold conveyancing solicitor has been very slow, so I want to be sure that my ownership is recorded.
There is nothing unique about conveyancing in Stotfold registration formalities. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. At present approximately 80% of such applications are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Historically registration is effected after the purchaser has moved in to the property so registration formalities is not always an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.
I opted to have a survey done on a property in Stotfold before instructing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some mortgage companies may not give a mortgage on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stotfold. Conveyancing will be smoother if you use a solicitor in Stotfold especially if they are acquainted with such properties in Stotfold.
I am a negotiator for a busy estate agent office in Stotfold where we see a number of leasehold sales derailed due to short leases. I have received contradictory information from local Stotfold conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a leasehold flat in Stotfold, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Stotfold with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2081
You have 55 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.