Is there a reason why leasehold purchase conveyancing in Stevenage costs more?
Stevenage leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Can you clarify what the consequences are if my solicitor is expelled from the Santander Solicitor panel ahead of completing my conveyancing in Stevenage?
The first thing to point out is that, 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.
I have todayfound out that Stirling Law have been shut down. They carried out my conveyancing in Stevenage for a purchase of a freehold house 9 months ago. How can I establish that the property is in my name in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stevenage conveyancing specialists.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Stevenage I like with a park and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Stevenage for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage that many years will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I am using a search engine for the phrase conveyancing in Stevenage it shows results of numerous solicitorsin the vicinity. How do I determine which is the suitable property lawyer for purchase transaction?
The preferential method of seeking the right conveyancer is via personal recommendation, so seek the opinion of friends and relatives who have bought a property in Stevenage or the reputable estate agent or financial adviser. Fees for conveyancing in Stevenage differ, so it's a good idea to obtain at least three fee estimates from varying types of conveyancers. Dont forget to clarify what costs in the quote includes.