My wife and I are purchasing a 2 bedroom flat in Stonehouse with a mortgage. We would like to retain our Stonehouse conveyancer, but the mortgage company advise he's not on their "panel". It seems we have little option but to select one of the mortgage company panel solicitors or keep our Stonehouse conveyancer and pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Stonehouse conveyancing lawyer to apply to be on the conveyancing panel.
I have todaybecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in Stonehouse for a purchase of a leasehold flat 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stonehouse conveyancing specialists.
I'm converting the mortgage on my existing property to a buy to let loan with TSB and I will use the ballance of the raised equity towards another house. The location we are interested in is Stonehouse. Will your solicitors be able to act for the two banks and link together the two deals?
Make use of our search tool on this site to be sure that the lawyers are on the appropriate lender panels. Having checked that they are the lawyer will be able to connect the two transactions but you should talk with you lawyer and communicate your desired outcome and needs.
We're FTB’s - agreed a price, yet the agent informed us that the owners will only go ahead if we appoint the agent's chosen solicitors as they are insisting on a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Stonehouse
We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', alienating a genuine buyer is counter productive. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you intend to appoint your own,trusted Stonehouse conveyancing solicitors - rather thanthe ones that will provide the negotiator at the agency a introducer fee or meet his conveyancing targets pre-set by head office.
Are there frequently found deficiencies that you encounter in leases for Stonehouse properties?
Leasehold conveyancing in Stonehouse is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the premises Insurance obligations
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.
I acquired a basement flat in Stonehouse, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Stonehouse with over 90 years remaining are worth £190,000. The ground rent is £45 per annum. The lease ceases on 21st October 2082
With only 62 years left to run we estimate the price of your lease extension to range between £17,100 and £19,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. 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 clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.