Do conveyancers ask for money up-front for conveyancing in Gerrards Cross?
If you are buying a property in Gerrards Cross your solicitor will ask you put them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the sale price then this should be asked for shortly ahead of exchange of contracts. Any further balance that is due will be payable shortly before completion.
Is it the case that all Gerrards Cross solicitor firms on the UBS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the UBS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
I currently have a mortgage with RBS for my property in Gerrards Cross. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
You must advise RBS prior to letting out your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
My sealed bid on a house in Gerrards Cross has been agreed to, but there is a chain. The vendors have offered on a property, however it’s not yet agreed to, and are looking at other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Gerrards Cross. What should be my next step? At what point do I apply for the mortgage with UBS?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then valuation, Gerrards Cross conveyancing search charges, etc). The first course of action is to check that your lawyer is on the UBS conveyancing panel. As to the subsequent phase this very much dictated by the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market the majority of purchasers will apply for the mortgage with UBS and pay for the valuation and only if it was satisfactory would they request their property lawyer to press on with the conveyancing in Gerrards Cross.
It has been four months since my purchase conveyancing in Gerrards Cross concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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.
How does conveyancing in Gerrards Cross differ for new build properties?
Most buyers of new build property in Gerrards Cross contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Gerrards Cross usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Gerrards Cross or who has acted in the same development.
Estate agents have just been given the go-ahead to market my ground floor flat in Gerrards Cross. Conveyancing has not commenced, however I have just received a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as usual because all ground rent and maintenance invoices 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 unless 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.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Gerrards Cross. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension decision for a Gerrards Cross flat is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The remaining number of years on the lease was 71 years.