The estate agent has sent us the confirmation of our purchase of a new build apartment in Stotfold. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Stotfold
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There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
What tools are available to search for a Stotfold law firm on the Lloyds TSB Bank conveyancing panel? I am a keen cyclist and am happy to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the facility on this page. Please select a lender and your location and you will see a number of Stotfold conveyancing lawyers located nearest you. We have listed some Stotfold conveyancing firms towards the end of this page and you can contact them to see if they are on the Lloyds TSB Bank panel
Am I better off to instruct a Stotfold conveyancing practitioner based in the area that I am purchasing? We have a good friend who can perform the conveyancing but they are based approximately 350miles away.
The benefit of a local Stotfold conveyancing firm is that you can pop in to sign paperwork, hand in your ID and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were content that must trump using an unknown Stotfold conveyancing lawyer just because they are Stotfold based.
I want to let out my leasehold apartment in Stotfold. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Stotfold do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I am the registered owner of a basement flat in Stotfold, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Stotfold with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2084
With 59 years remaining on your lease we estimate the price of your lease extension to be between £20,900 and £24,200 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Me and my husband are selling a Stotfold property we inherited seven years ago in 2009. I have over a decades worth of conveyancing knowledge and, now retired, see no reason not to conduct the conveyancing. The buyer's property lawyer has informed me that their mortgage company will not allow us to do our own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Lending requirements to conveyancers from all CML members specify that If the vendor does not have legal representation the purchaser’s lawyers should check whether the lender needs to be notified so that a decision can be made as to whether they are willing to move forward.