My financial adviser requires my Stroud lawyer’ panel member for the Lloyds conveyancing panel. Can you suggest how I obtain this. I have contacted my local Stroud office but they cant find it on their system.
Have you tried contacting your Stroud lawyer about this?. Most Stroud law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
My partner and I are buying a brand new duplex in Stroud and my solicitor is informing me that she has to the mortgage company to disclose incentives from the developer. The Estate Agents are hassling me to exchange and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a flat and require a conveyancing solicitor in Stroud who is on the Bank of Ireland approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Stroud. We dont recommend any particular firm.
A colleague suggested that if I am purchasing in Stroud I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Stroud conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Stroud 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, Stroud Education with plans and statistics, Local Amenities and other useful information about Stroud.
I need to appoint a conveyancing solicitor for my conveyancing in Stroud. I have chance upon a site which appears to be the ideal solution If there is a chance to get all the legals completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a couple of apartments in Stroud which have in the region of fifty years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Stroud is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than 75 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 premises 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 Stroud 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
I purchased a basement flat in Stroud, conveyancing having been completed in 2010. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Stroud with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2089
With just 64 years remaining on your lease we estimate the price of your lease extension to be between £14,300 and £16,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.