Me and my partner are acquiring a maisonette in Stone. My Conveyancer is not on the lender conveyancing list. Can I still use my Stone conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
You must use a conveyancer to complete the formalities if you take out a loan to purchase your property. The property lawyer will conduct all the relevant due diligence on the property, ensuring that you will be properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. You may select a Stone lawyer of your choosing. Nevertheless, where the conveyancing practitioner appointed is not a member of the bank solicitor panel additional costs will be incurred as separate legal representation will be need by the mortgage company. Lender panel applications may be submitted, so provided your lawyer has not historically applied for membership they can do so.
Do I have to pop into the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Stone so that I can attend their offices when needed.
Whereas this was necessary twenty years ago, almost all mortgage companies no longer oblige their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to hand over ID documents and there are still manifest benefits to instructing a local solicitor, in your case a conveyancing solicitor in Stone.
I need to find a conveyancing solicitor for sale conveyancing in Stone. I happened to land on a web site which seems to have the ideal answer If it is possible to get all this stuff completed via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last July I purchased a leasehold property in Stone. Do I have any liability for service charges for periods before my ownership?
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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 basement flat in Stone, conveyancing having been completed in 2002. Can you work out an approximate cost of a lease extension? Similar flats in Stone with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2087
With 63 years unexpired we estimate the price of your lease extension to be between £16,200 and £18,600 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures 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 should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
Why do I have to supply my conveyancer with various items of ID before I can proceed with selling or purchasing a property in Stone?
Stone conveyancing practitioners are obliged by the Law Society, SRA, the Land Registry and current Money Laundering Regulations to certify that the have verified the identity of their clients. It will also be a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, national insurance number and date of birth.