I can't travel far from Cheadle Hulme. I would like to know the reason why all Cheadle Hulme conveyancing practitioners are not on all lender panels?
Before the recession most mortgage companies displayed an approach to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. Accordingly, banks have since soughtmore data from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Hundreds of firms have been removed from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the criteria of volume of transactions the mortgage companies required.
Do the conveyancing solicitors identified via your search tool execute conveyancing in Cheadle Hulme by way of an attended exchange?
We do have a number of conveyancing experts carrying out 24hr exchanges. You should call us to obtain a costs illustration and details as to dates.
I own a freehold property in Cheadle Hulme yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Cheadle Hulme and has limited impact for conveyancing in Cheadle Hulme 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We are selling our apartment in Cheadle Hulme. Will my conveyancing practitioner need to be required to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Over the last few months I have been searching for a flat up to £305k and found one near me in Cheadle Hulme I like with open areas and transport links nearby, however it's only got 49 remaining years left on the lease. There is not much else in Cheadle Hulme for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I happen to be an executor of my recently deceased aunt’s Will, with a property in Cheadle Hulme which will be sold. The bungalow is unregistered at the Land Registry and I'm told that many estate agents will insist that it is completed before they'll proceed. What's the mechanism for this?
In the situation that you have set out it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.