At what point can the exchange of contracts happen for sale conveyancing in Stevenage and am I required to be at the lawyers branch?

If you are in close proximity to our conveyancing solicitors in Stevenage you are invited in to sign the paperwork. However, the law practices we recommend supply a national conveyancing service and provide just as detailed and professional a job for you when communicating with you digitally. The executing of the property agreement is not when everything is set in stone. A signed contract is necessary for the conveyancer to officially exchange at the suitable time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Stevenage)to be in the office available at the end of the phone to exchange contracts.

My lawyer has informed me that chancel insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Stevenage?

The appropriate level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.

When it comes to lenders such as Coventry BS, do Stevenage property lawyers face an annual charge to be on the list of approved solicitors?

We are unaware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

The mortgage over my property is with TSB for my property in Stevenage. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?

TSB must be informed of your intention prior to letting out your property as this is likely to be a breach of TSB’s mortgage conditions. In many cases banks or building societies will permit you to let 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 TSB directly. It should not be necessary to do this via a TSB conveyancing panel lawyer.

I own a semi-detached Georgian property in Stevenage. Conveyancing solicitor acted for me and Alliance & Leicester . I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same property. I'd like to know for sure, how can I find out??

You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stevenage and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing lawyer who conducted the conveyancing.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Stevenage is the location of the property. Can you shed any light on this issue?

Flying freeholds in Stevenage are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stevenage you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stevenage may determine 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.

I am in need of some leasehold conveyancing in Stevenage. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Stevenage - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Leasehold Conveyancing in Stevenage - Sample of Questions you should ask Prior to Purchasing

This question is helpful as a) areas can result in problems for the building as the communal areas may start to deteriorate if repairs are not paid for b) if the tenants have an issue with the managing agents you will want to have full disclosure Can you tell me if there are any major works on the horizon that will likely increase the service fees?