At long last a mortgage offer from HSBC for the refinancing of my single room garden flat is coming any day now. Can you recommend a cheap conveyancing solicitor in Stansted?
You are on the wrong site if you are in need of cut-price fees for conveyancing in Stansted. Our aim is to provide affordable conveyancing but we do not aim to work with the cheapest lawyers. Do not be seduced by brokers offering the bait of £100 conveyancing in Stansted. Optimistically, in deciding on low cost conveyancing, you will receive what you pay for and at worst you will end up spending a lot in extras and still not receive the service required.
What happens if my lawyer’s firm is expelled from the Barclays Solicitor panel ahead of completing my conveyancing in Stansted?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Me and my partner are purchasing a flat in Stansted. I might seem paranoid but how we can trust a solicitor? On completion day we have to put money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The formalities of my remortgage has taken place for my property in Stansted. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Stansted building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Stansted conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend in accordance with their published requirements. I have no idea who is right.
The lawyer has to follow the CML Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
How does conveyancing in Stansted differ for new build properties?
Most buyers of new build or newly converted property in Stansted contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because developers in Stansted tend to purchase the land, 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 property lawyers 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.
Can you provide any advice for leasehold conveyancing in Stansted with the purpose of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Stansted can be bypassed if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers. Some Stansted leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. The majority of freeholders or Management Companies in Stansted levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Stansted. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Stansted state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such alterations. If you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer first.
Stansted Leasehold Conveyancing - Examples of Queries before Purchasing
What restrictions exist in the Stansted Lease? Many Stansted leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced on behalf of the management company. Should you purchase the apartment you will have to pay this liability, usually in instalments throughout the year. This may vary from several hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent for you to pay yearly, this is usually not a significant figure, say approximately £50-£100 but you need to enquire as sometimes it could be surprisingly expensive. The answer will be helpful as a) areas could cause problems for the building as the common areas may start to deteriorate if services are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have full disclosure