Having sold my house in Stroud last May yet the purchaser is SMS messaging me to moan that their solicitor needs to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your sale your solicitor is committed to deliver the transfer deeds and all of the paperwork to the purchaser's solicitors. Where relevant, your lawyer must also evidence that the legal charge in favour of the lender has been paid off to the buyers solicitors. There is unlikely to be post completion procedures specific conveyancing in Stroud.
I had a mortgage agreed in principle with Yorkshire BS. Stroud conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS done the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I currently have a mortgage with RBS for my property in Stroud. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
You must advise RBS prior to letting out your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. You need not do this via a RBS conveyancing panel lawyer.
Aldermore have agreed my home loan in principle, my bid on a house in Stroud has been agreed to, what are the next steps?
Your property agent will need to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s panel). Call up Aldermore or the broker and complete any relevant paperwork. Aldermore will sellect a valuer who will get in contact with the estate agent or seller to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Aldermore will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stroud.
I used Wolstenholmes a few years ago for my conveyancing in Stroud. Now, I need the files but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Stroud of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Can you provide any top tips for leasehold conveyancing in Stroud with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Stroud can be reduced where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers’ solicitors. A minority of Stroud leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
Stroud Leasehold Conveyancing - Examples of Queries Prior to buying
How is the lease structured? How much is the ground rent and service charge? It would be prudent to find out as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to daily issues such as the tidiness of the common parts. Ask other tenants whether they are happy with them. In conclusion, investigate as to the dates that the maintenance charges are due to the relevant party and precisely what it includes.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.