We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to use a Stone based conveyancing firm?

Do check but the the likelihood is that allocate you one of their panel conveyancers should you want the "fee-free" offer. Speak to the mortgage company and determine if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Stone.

About to purchase a new build apartment in Stone. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Stone

Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

I am looking into buying my first house which is in Stone and I am already nervous. I couldn't find anything specific about Stone. Conveyancing will be needed in due course but do you know about the Stone area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Stone. In the meantime here are some basic statistics that we found

I am a negotiator for a busy estate agent office in Stone where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Stone conveyancing firms. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Stone Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

You should be aware if it is fewer than eighty years it will impact the marketability of the apartment. It is worth checking with your mortgage company that they are content with the length of the lease. Leases with less than 80 years remaining means that you will probably need a lease extension sooner rather than later and it is worth finding out what this will be. For most Stonelease extensions you would need to own the premises for 24 months before you are entitled to carry out a lease extension. The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees benefit from control and notwithstanding that a managing agent is usually retained if the building is larger than a house conversion, the managing agent retained by the leaseholders. This question is useful as a) areas may cause problems in the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have all the details

I dont have enough spare funds to pay a 10% deposit on my apartment purchase in Stone , but I still want to exchange. What can I do?

You can accept a lower deposit. Many property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute