My fiance and I are intent on acquiring property in Bury. My lawyer is not listed on the lender conveyancing panel. Can I still retain my Bury conveyancing solicitor even though they are not on the lender approved list?
You have numerous choices available to you here
- Complete the deal with your preferred Bury conveyancing practitioner but your mortgage company will undoubtedly retain a conveyancer from their approved panel. The net result is additional cost together with probable interruption.
- Get a fresh conveyancing practitioner to act in the purchase, obviously checking they are on the lender conveyancing panel.
- Appeal to your lawyer to apply to join the lender panel
I purchased a freehold residence in Bury yet charged rent, why is this and what is this?
It’s unusual for properties in Bury and has limited impact for conveyancing in Bury but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
The estate agent has sent us the confirmation of our purchase of a new build flat in Bury. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bury
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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? Please confirm the Lease plans are architect prepared. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the input of my in-laws I had a survey completed on a property in Bury prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies tend not give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bury. Conveyancing will be smoother if you use a solicitor in Bury especially if they are accustomed to such properties in Bury.
Is it possible to switch conveyancer as I need to find a firm on the Yorkshire Building Society conveyancing list. I instructed a local conveyancing solicitor in Bury round the corner but he is not approved by Yorkshire Building Society
We will our best to assist in finding you a conveyancing solicitor in Bury on the Yorkshire Building Society panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Bury. In utilising the find a conveyancing solicitor tool on this site, you can contrast costs for conveyancing solicitors in Bury and beyond.
There are only 72 years remaining on my lease in Bury. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole a specialist may be useful to try and locate and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court covering Bury.
Bury Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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How is the lease structured? Its a good idea to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters such as the tidiness of the communal areas. Ask other tenants whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money. Many Bury leasehold apartments will be liable to pay a service charge for maintenance of the block levied on behalf of the management company. Where you purchase the flat you will have to meet this amount, usually periodically throughout the year. This could differ from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge to be met annual, this is usually not a large amount, say about £50-£100 but you should to check it because occasionally it could be surprisingly expensive.