I am expecting a mortgage offer from Halifax. I would like to use a Licensed Conveyancer in Cheadle Hulme. Does the Halifax Solicitor panel allow for conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We just had an offer accepted to buy with Melton Mowbray Building Society. We have called around locally but am struggling to find a Cheadle Hulme conveyancing firm on the Melton Mowbray Building Society approved list. Can you help?
Feel free to make use of the find a lender approved solicitor tool on this page. Pick the mortgage company and type Cheadle Hulme or your preferred area and you will see a number of lawyer based in Cheadle Hulme or by proximity to you.
I am buying a new build house in Cheadle Hulme benefiting from help to buy. The developers refused to reduce the amount so I negotiated 6k of extras instead. The sale representative suggested that I not reveal to my lawyer about the deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a property in Cheadle Hulme ahead of instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies tend not give a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cheadle Hulme. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cheadle Hulme to see if the conveyancing costs will increase in light of this.
I am looking at a couple of maisonettes in Cheadle Hulme which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Cheadle Hulme is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of purchasers and banks, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cheadle Hulme conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a ground floor flat in Cheadle Hulme, conveyancing was carried out in 2004. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Cheadle Hulme with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2079
With just 54 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
I have just appointed agents to market my 2 bed apartment in Cheadle Hulme.Conveyancing has not commenced but I have recently had a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge the maintenance contribution as normal given that all rents and maintenance payments will be apportionedon completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially