I am progressing with the sale of my maisonette in Cheadle Hulme and the EA has just telephoned to warn that the buyers are swapping conveyancer. The excuse is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a major lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Cheadle Hulme ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened 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 being contacted daily by practices that have been removed from panels. Some 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. The purchasers are not going to have any impact on this.
Me and my partner are soon to exchange on the purchase of a house in Cheadle Hulme but as a result of wreckage from the recent storms I have managed to agree compensation from the owner in the sum of £3k in the form of a reduction in the price. I had intended this to be dealt with as part of amending the contract but Yorkshire BS are not allowing this. Why were they approached?
The conveyancing practitioner that is on a Yorkshire BS conveyancing panel is duty bound to disclose to Yorkshire BS of any changes to the sale price. If you prohibit your property lawyer to notify the reduction to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new lawyer for your conveyancing in Cheadle Hulme.
What will a local search reveal regarding the property my wife and I purchasing in Cheadle Hulme?
Cheadle Hulme conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search is essential in every Cheadle Hulme conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I have been on the look out for a flat up to £235,500 and identified one near me in Cheadle Hulme I like with open areas and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Cheadle Hulme for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I am selling my house. My past solicitors closed down. I am in need of a recommendation of a conveyancing firm. Im based in Cheadle Hulme if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Cheadle Hulme. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Planning to sign contracts shortly on a garden flat in Cheadle Hulme. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Cheadle Hulme should include some of the following:
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Information as to the provision as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a lessee has Alterations to the property You should receive a copy of the lease Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? What options are open to you if a neighbour is in violation of a provision in their lease?
I bought a 2 bed flat in Cheadle Hulme, conveyancing formalities finalised 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Cheadle Hulme with a long lease are worth £170,000. The ground rent is £50 yearly. The lease expires on 21st October 2104
With only 79 years left to run the likely cost is going to span between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should 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. Neither should you move forward placing reliance on this information before seeking the advice of a professional.