Do lenders provide you with an approved list of Stockwood conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Stockwood conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
A friend informed me that in buying a property in Stockwood there may be a number of restrictions prohibiting external changes to a property. Is this right?
There are a number of properties in Stockwood which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Stockwood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We expect to receive a DIP from RBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Stockwood solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stockwood solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I can not fathom if my bank requires a lease extension. I have telephoned my Stockwood bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Stockwood conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their published requirements. I simply don't know who is right.
As long as the conveyancing practitioner is on the mortgage company approved list, they must follow the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
three months have elapsed since my purchase conveyancing in Stockwood completed. I have checked the Land Registry website 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 premises 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 Stockwood differ for newly converted properties?
Most buyers of new build residence in Stockwood contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because builders in Stockwood usually purchase 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 Stockwood or who has acted in the same development.
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Stockwood. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stockwood ?
The majority of houses in Stockwood are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Stockwood so you should seriously consider shopping around for a Stockwood conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.