I plan on acquiring a flat in Stretton. My property lawyer is not listed on the bank approved panel. Am I still permitted to continue with my Stretton conveyancing solicitor notwithstanding that they are not on the lender approved list?
One must instruct a property lawyer to complete the formalities when you take out a loan to buy your home. They will conduct all the appropriate investigations on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One may instruct a Stretton lawyer of your choice. However, where the solicitor appointed is not on the lender conveyancing panel additional costs will be levied as separate legal representation will be required by them. Lender panel applications can be submitted, so where your solicitor has not previously applied for membership they should take the chance to apply.
Why do I have to pay up front when it comes to conveyancing in Stretton?
Where you are retaining lawyers for conveyancing in Stretton your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the total price then this should be required shortly ahead of exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
It has been four months since my purchase conveyancing in Stretton took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Last August I purchased a leasehold house in Stretton. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 1 bedroom flat in Stretton, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Stretton with a long lease are worth £185,000. The ground rent is £65 levied per year. The lease comes to an end on 21st October 2078
With just 60 years unexpired we estimate the price of your lease extension to range between £20,000 and £23,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. 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. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Been searching for a conveyancing practitioner for freehold sale conveyancing in Stretton. I'm selling, simple no mortgage to pay off, no rush, no onward chain. Received a quote from a solicitor for nine hundred pounds excluding VAT which is a tad expensive given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Stretton?
Considering it’s a sale only, £500 + VAT should be about the cheapest for a Stretton solicitor firm.