I am progressing with the sale of my flat in Alderley Edge and the EA has just e-mailed to advise that the purchasers are changing their conveyancer. The excuse is that the bank will only deal with solicitors on their conveyancing panel. Why would a major lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Alderley Edge ?
Banks have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I am buying a semi-detached house in Alderley Edge. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Alderley Edge you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Alderley Edge.
Should my conveyancer be raising enquiries concerning flooding during the conveyancing in Alderley Edge.
Flooding is a growing risk for solicitors carrying out conveyancing in Alderley Edge. Plenty of people will acquire a house in Alderley Edge, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Alderley Edge. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the vendor to determine if the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the vendor, then a purchaser may commence a legal claim for losses resulting from an incorrect reply. The purchaser’s solicitors may also conduct an environmental search. This will higlight if there is any known flood risk. If so, more detailed inquiries should be made.
Just had an offer accepted on a new build flat in Alderley Edge. 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 enquiries that you can expect your new-build leasehold conveyancing in Alderley Edge
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking into buying my first house which is in Alderley Edge and I am already nervous. I couldn't find anything specific about Alderley Edge. Conveyancing will be needed in due course but do you know about the Alderley Edge area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Alderley Edge. In the meantime here are some basic statistics that we found
I have just started marketing my ground floor flat in Alderley Edge. Conveyancing solicitors are to be appointed soon, but I have recently had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge as normal as all rents and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a garden flat in Alderley Edge, conveyancing formalities finalised in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Alderley Edge with over 90 years remaining are worth £206,000. The ground rent is £45 per annum. The lease finishes on 21st October 2091
With just 66 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.