Completed the sale of my flat in Alderley Edge last September yet the purchaser is telephoning daily complaining that his solicitor is waiting to hear from mine. What should my lawyer have done following completion?
After completion of your house sale your lawyer should forward the transfer documentation and all of the paperwork to the buyer’s solicitors. Where relevant, your lawyer must also evidence that the home loan has been discharged to the purchasers conveyancers. There are no post completion steps just for conveyancing in Alderley Edge.
I am buying my first flat in Alderley Edge with a mortgage from Barclays Direct. The sellers refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent told me not to tell my lawyer about this extras as it could put at risk my loan with Barclays Direct. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Alderley Edge I like with open areas and station in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Alderley Edge for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Do I need to be wary about estate agents that I am dealing with are recommending a national conveyancing firm as opposed to a local Alderley Edge conveyancing practice?
As with many professional services, often recommendations from relatives can be worth their weight in gold. But there are numerous players in a conveyancing deal; estate agents, mortgage brokers and banks might all suggest lawyers to use. On occasion these conveyancers might be known to one of the organisations as being good in their field, but occasionally there may be a commercial relationship behind the endorsement. You are at liberty to appoint your own lawyer. You need to be aware that some banks have an approved list of lawyers you are obliged to use for the lender related work in your conveyancing.
I own a leasehold flat in Alderley Edge. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Alderley Edge who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Alderley Edge conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a basement flat in Alderley Edge, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Alderley Edge with an extended lease are worth £196,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2090
With 64 years remaining on your lease we estimate the price of your lease extension to span between £15,200 and £17,600 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
There are a lot of houses in Alderley Edge on unadopted roads. I am purchasing one such house. Are there any benefits to buying a property on a privately owned road?
Alderley Edge conveyancing solicitors are well versed in conveyancing homeson unadopted roads. Your lawyer will review the title to find any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that residents make annual contributions to maintain the road. If there is one, the road will likely be maintained and appear nicer than publicly adopted.