Do I have to attend the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Stone Cross so that I can pop in to their offices when needed.

Most approved lawyers for banks conduct all of the work through Royal Mail, e-mail or over phone calls. This means that they can undertake the conveyancing transaction no matter where you live in England or Wales. That being said you should check if you can still book an appointment to visit conveyancing lawyer if you prefer.

When it comes to mortgage companies such as TSB, do Stone Cross conveyancers face a yearly amount to be on the list of approved solicitors?

We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.

I'm spending time viewing flats in Stone Cross and I am about to put in an offer. Should I already have a conveyancer in place at this point? I am planning to take a mortgage with Aldermore.

You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are taking out a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.

I have paid off my mortgage with Aldermore. I assume I don't need a Stone Cross solicitor on the Aldermore panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Aldermore has sent the Land Registry the discharge electronically, and
3. Aldermore has instructed the Land Registry to do so

How does conveyancing in Stone Cross differ for newly converted properties?

Most buyers of new build residence in Stone Cross contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Stone Cross tend to acquire 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 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 used to new build conveyancing in Stone Cross or who has acted in the same development.

Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Stone Cross is where the house is located. Is there any guidance you can impart?

Flying freeholds in Stone Cross are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stone Cross you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stone Cross may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I am attracted to a two apartments in Stone Cross both have approximately forty five years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Stone Cross is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Stone Cross conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Stone Cross Leasehold Conveyancing - A selection of Questions you should consider before buying

If a Stone Cross lease has fewer than eighty years it will have adverse implications on the marketability of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the property for 24 months in order to be entitled to extend the lease. It is important to be aware whether redecorating or some other significant cost is anticipated that will be shared between the leaseholders and will materially increase the the service fees or necessitate a one off payment. You should want to discover as much as you can about the managing agents as they can either make living at the property much simpler or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the common parts. Ask other tenants what they think of their management. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money.