Do all mortgage companies provide you with an approved list of Bamber Bridge conveyancing solicitors? How do you know who is on the HSBC conveyancing panel?
Bamber Bridge conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Can I be sure that the Bamber Bridge conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Bamber Bridge getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your conveyancing.
I am currently in the process of buying my council flat in Bamber Bridge. I have a mortgage agreed with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I have a mortgage with Bank of Ireland for my property in Bamber Bridge. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval before letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel solicitor.
I have been told that property searches are the number one cause of stalling in Bamber Bridge house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Bamber Bridge.
Me and my brother have a 4 bedroom Georgian property in Bamber Bridge. Conveyancing solicitor represented me and Aldermore. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bamber Bridge and other areas of 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 mortgage companies. You can also check the situation with your conveyancing practitioner who conducted the work.
I need to retain a conveyancing solicitor for leasehold conveyancing in Bamber Bridge. I happened to chance upon a site which appears to be the perfect solution If it is possible to get all this stuff done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any top tips for leasehold conveyancing in Bamber Bridge with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Bamber Bridge can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers’ conveyancers. You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved. Some Bamber Bridge leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Bamber Bridge leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Where you fail to have the paperwork to hand do not contact the landlord without contacting your conveyancer in advance.
I inherited a leasehold flat in Bamber Bridge, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Bamber Bridge with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2102
With 77 years unexpired we estimate the premium for your lease extension to be between £7,600 and £8,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.