I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Stamford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Stamford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stamford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Are there any apps to help locate a Stamford solicitor on the Yorkshire Building Society conveyancing panel? I have wheels and am prepared to travel upto 10kilometers to meet the lawyer.
You can use the search on this website. Please select a lender and your location and you will see a number of Stamford conveyancing lawyers located nearest you. We have listed some Stamford conveyancing firms towards the end of this page and you can call them to see if they are on the Yorkshire Building Society approved list
I need to instruct a conveyancing lawyer in Stamford for my purchase. Is it possible to check a firm’s record with the profession’s regulator?
One can read presented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes monitor call for training reasons.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Stamford. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Stamford are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Stamford in which case you should be looking for a Stamford conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.
I bought a studio flat in Stamford, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Stamford with over 90 years remaining are worth £170,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2104
With 78 years remaining on your lease we estimate the price of your lease extension to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Should local authority consent be needed to split a single dwelling into a couple of appartments in Stamford? This has taken place to a house next door to a friend in Stamford and was ignorant of the conversion until after the works were finished.
Planning permission is required for converting a single house in Stamford into apartments but probably not for converting back to single dwelling-house so, in answer to your question, yes.