My lawyer has discovered a defect with the lease for the property we are purchasing in Altrincham. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Altrincham with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Are there any apps to assist me to search for a Altrincham law firm on the Skipton Building Society conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the search on this page. Please select a lender and your location and you will see a number of Altrincham conveyancing lawyers locally. We have detailed some Altrincham conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Skipton Building Society panel
We're new to the buying process - had an offer accepted, but the selling agent has warned us that the vendor will only move forward if we instruct their preferred lawyers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Altrincham
We suspect that the owner is unaware of this request. If they desire ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Altrincham conveyancing firm - as opposed tothe ones that will earn their estate agent a introducer fee or achieve conveyancing figures demanded by corporate headquarters.
Do you have any top tips for leasehold conveyancing in Altrincham from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Altrincham can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Many landlords or managing agents in Altrincham charge for providing management packs for a leasehold home. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Altrincham. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Altrincham leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you dont have the approvals to hand you should not contact the landlord without checking with your solicitor in the first instance.
Altrincham Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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This information is helpful as a) areas can result in problems for the block as the communal areas may start to deteriorate where repairs are not paid for b) if the tenants have an issue with the managing agents you will wish to have all the details Please note that where the lease has fewer than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are content with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the property for two years in order to be eligible to extend the lease. Can you tell me if there are any major works in the planning that will add a premium to the service charges?
I was informed by my bank that their approved lawyers operate no completion no fee basis for conveyancing in Altrincham. I had a purchase abort yet the conveyancers have invoiced for search fees! They say the fees are nothing to do with their fees!
By promising "no completion no fee" Altrincham conveyancing practices are foregoing their fees for any work conducted. We should make it clear that this is not to be regarded as an insurance scheme. you will still need to pay for any disbursements that the solicitor has outlayed on your behalf such as Altrincham local authority checks