Is it correct that all Stone Cross CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved firms?
A selection of lenders now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I'm spending time looking at flats in Stone Cross and I am about to put in an offer. Is it wise to have a solicitor on ‘stand by’? I am planning to take a home loan with Santander.
You should start requesting conveyancing quotes 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 obtaining a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
At last I have had an offer on an apartment in Stone Cross accepted, but there is a chain. The owners have offered on on an apartment, but it’s not yet tied up, and are looking at other flats in the pipeline. I have instructed a high street conveyancing solicitor in Stone Cross. What should be my next step? At what stage do I apply for the mortgage with Lloyds?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Stone Cross conveyancing search costs, etc). First, you must check that your conveyancing practitioner is on the Lloyds approved list. As to the next steps this very much depends on the circumstances of your case, motivation for the property and on the state of the market. During a hot market some buyers will apply for a home loan with Lloyds and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with the conveyancing in Stone Cross.
Me and my brother purchased a 4 bedroom Edwardian property in Stone Cross. Conveyancing solicitor represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be 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 Stone Cross and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing lawyer who carried out the work.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Stone Cross I like with amenity areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Stone Cross in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
We are a couple of weeks into a residential purchase having been directed to solicitors by the selling agent to do our conveyancing in Stone Cross. I am am extremely frustrated with the quality of service. Could you help me find new lawyers?
A lawyer would have to be really poor in order to consider replacing them. Has your mortgage been generated? In the event that it has you need to make them aware of the new contact details and get the mortgage documents are re-issued. The conveyancer needs to be on the mortgage company approved list to avoid added costs and complications. That should be your starting point. Our find a solicitor tool will help you find a lender approved conveyancer for your conveyancing in Stone Cross
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Stone Cross. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Stone Cross are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Stone Cross so you should seriously consider shopping around for a Stone Cross conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I invested in buying a 2 bed flat in Stone Cross, conveyancing having been completed September 2011. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Stone Cross with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2084
With 62 years unexpired we estimate the price of your lease extension to be between £17,100 and £19,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.