We were about to retain a conveyancing solicitor in Stoke Park recommended using your search tool but have come across some other fee calculations on the internet look cheaper – how come?
There are hundreds of conveyancing outfits advertising at first sight what seems to be very low prices. You should think twice as to how much you respect your own move to you are willing to take 'cheap' risks with regard to the quality of the legal work. Some hide fees well inside the terms of engagement. The law firms that we list for conveyancing in Stoke Park will notbehave this way.
I purchased a 4 bedroom Victorian house in Stoke Park. Conveyancing lawyer acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stoke Park and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who conducted the purchase.
How does conveyancing in Stoke Park differ for new build properties?
Most buyers of new build property in Stoke Park come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Stoke Park usually acquire the site, 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 conveyancing solicitors 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 used to new build conveyancing in Stoke Park or who has acted in the same development.
I decided to have a survey carried out on a property in Stoke Park in advance of instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some banks will refuse to give a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stoke Park. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you provide any top tips for leasehold conveyancing in Stoke Park with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Stoke Park can be bypassed if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers. If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Arranging a re-issued share certificate is often a time consuming process and delays many a Stoke Park home move. Where a reissued share is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
I acquired a leasehold flat in Stoke Park, conveyancing having been completed 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Stoke Park with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2083
With 60 years unexpired we estimate the price of your lease extension to be between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.