I had intended to instruct a conveyancing solicitor in Stanley for our house purchase. Our broker informed us that our mortgage lenders Godiva Mortgages Ltd won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most banks had a different appetite for risk. Almost all Stanley conveyancing firms would have been on most bank panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms concerning their operations and their employees and set certain criteria such a completing on a minimum amount of conveyancing. Many Stanley conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Stanley is one of the numerous locations where the conveyancers showing on our search results are are authorised to act for Godiva Mortgages Ltd.
My friend recommended that where I am purchasing in Stanley I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Stanley conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Stanley around the property and the people living there. It incorporates 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 House Prices, Crime details, Stanley Education with plans and statistics, Local Amenities and other useful data concerning Stanley.
I am buying a new build flat in Stanley. Conveyancing is a frightening process 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.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Stanley
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
In my capacity as executor for the will of my grandfather I am disposing of a residence in Cardiff but I am based in Stanley. My conveyancer (approximately 260 miles awayrequires that I execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing solicitor in Stanley to witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Stanley based
If all goes to plan we aim to complete the disposal of our £125,000 flat in Stanley next week. The landlords agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Stanley?
For the majority of leasehold sales in Stanley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Completing conveyancing due diligence enquiries
Where consent is required before sale in Stanley
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Stanley Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
You should be aware that where the lease has less than eighty years it will have adverse implications on the salability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth discovering what this will be. Remember, in most cases you will need to own the residence for a couple of years in order to be entitled to exercise a lease extension. Are any of leasehold owners in dispute over their service charge liability? The prefered form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders enjoy control and although a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent employed by the leaseholders.