My conveyancer has identified a defect with the lease for the flat we are purchasing in Cheshire. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor has advised that he must check that the mortgage company is happy with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. The appropriate lender conditions have to be complied with.
My wife and I have recently appointed a conveyancing solicitor in Cheshire. I I am struggling to find out if they are on the Norwich and Peterborough Building Society approved list of lawyers. Could you assist?
The first thing you should do is contact the conveyancer and ask them whether they are on the lender panel. Otherwise please call Norwich and Peterborough Building Society who may be able to confirm.
What is the difference between a licensed conveyancer and conveyancing solicitor in Cheshire
There are two types of lawyers who can carry out conveyancing in Cheshire namely CLC regulated conveyancers or solicitors. Both professionals provide the legal services that required to complete the sale or purchase of property. They are both duty bound to perform Cheshire conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that the necessary steps will be accurately followed.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Cheshire. Do I receive the keys to the premises on the completion date from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Cheshire?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I am buying a property in Cheshire. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
As your lender is Nationwide your lawyer must check the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook includes minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Nationwide where a lease fails to meet these specifications. The requirements relate to the installation of panels on properties nationwide and is not restricted to Cheshire.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Cheshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cheshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently bought a leasehold property in Cheshire. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a 1st floor flat in Cheshire, conveyancing having been completed in 2000. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Cheshire with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2076
You have 51 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
We are in the process of acquiring a property in Cheshire. Conveyancing is not over but we would like keep our purchase price a secret from the likes of Nestoria. what can I do to ensure this is not revealed?
HM Land Registry by statute are required to disclose price paid information on a register of the title for domestic properties nationwide including properties in Cheshire. The register of ownership is a public document, so the Land Registry would be breaching their statutory duty if they failed to allow access to the register.
You can ask HMLR to hide the amount paid entry yet the response would be a No.