My husband and I are buying a 2 bedroom flat in Stotfold with a mortgage. We like our Stotfold lawyer, however the lender advise he's not on their "panel". It appears that we have no option but to appoint one of the lender panel conveyancing practices or retain our Stotfold solicitor as well as pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Stotfold conveyancing solicitor to apply to be on the conveyancing panel.
Would the conveyancing lawyers that you recommend handle auction conveyancing in Stotfold?
There are a few niche solicitors we can put you in touch with those who can conduct auction conveyancing. Stotfold is one of our areas of in which our lawyers are based.
A relative advised me that where I am purchasing in Stotfold I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Stotfold conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Stotfold around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Stotfold Education with maps and statistics, Local Amenities and other useful data about Stotfold.
I am looking for a leasehold apartment up to £305k and found one close by in Stotfold I like with a park and transport links in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Stotfold for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the shortness of the lease will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I have just appointed agents to market my garden flat in Stotfold. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly service charge invoice – what should I do?
It best that you pay the invoice as usual given that all rents and maintenance payments should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Stotfold - Sample of Questions you should consider Prior to buying
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Be sure to find out if there are any onerous prohibitions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Stotfold. If you love the propertyin Stotfold however your dog can’t make the move with you then you will be presented with a hard choice. What is the yearly service fee and ground rent? This information is important as a) areas may result in problems for the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the managing agents you will want to have all the details
Some weeks ago I was told by my lender that their approved conveyancers work on no sale no charge basis for conveyancing in Stotfold. Our purchase fell through nevertheless the conveyancers have requested search fees! They are claiming that the fees are seperate!
By promising "no move no fee" Stotfold conveyancing firms are waiving their fees for any work done. We should point out that this does not constitute an insurance scheme. Disbursements aren’t covered – where the conveyancer have to pay money out to other people, for instance Stotfold local search fees