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Recently asked questions about conveyancing in Stansted

How do I find the right lawyer to supply a quality service for my conveyancing in Stansted?

Option 1 is to ask the people you trust who they would recommend.

Option 2 is to search the internet for conveyancing in Stansted. Telephone two or three from the list and invite them to send you their conveyancing quote and discuss your needs with the solicitor who will oversee the legal process beforemaking your decision.

Option 3 is to use our search tool to assist you in finding the right lawyers for you based on your unique requirements including the type of property,deadlines, complications and who your intended lender is. Avoid the trap of appointing £99 conveyancing in Stansted

I own a freehold residence in Stansted but still charged rent, why is this and what is this?

It’s unusual for properties in Stansted and has limited impact for conveyancing in Stansted but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

It has been 2 months since my purchase conveyancing in Stansted completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 property 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 Stansted differ for newly converted properties?

Most buyers of new build or newly converted property in Stansted approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because house builders in Stansted tend to acquire 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 conveyancers 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 Stansted or who has acted in the same development.

I am hoping to exchange soon on a basement flat in Stansted. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Stansted should include some of the following:

    Defining your legal entitlements in respect of the communal areas in the building.E.G., does the lease provide for a right of way over an accessway or hallways? What options are open to you if an adjoining owner breaches a clause of their lease? You should have a good understanding of the building insurance provisions Whether your lease provides for a reserve fund? You should know whether the lease permits you to alter or upgrade anything in the property- you must be made aware as to whether it applies to all alterations or just structural alteration, and whether permission is mandated necessary
For details of the information to be included in your report on your leasehold property in Stansted please enquire of your conveyancer in advance of your conveyancing in Stansted.

I own a 1 bedroom flat in Stansted, conveyancing formalities finalised October 2011. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Stansted with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2077

With only 58 years unexpired the likely cost is going to range between £22,800 and £26,400 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

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Find out more about how flying freehold can affect your the value of a property.