My husband and I are intending to purchase a 2 bedroom flat in Congleton with a mortgage. We have a Congleton solicitor, but the lender advise she’s not on their "panel". It appears that we have no choice but to instruct one of the lender panel firms or retain our Congleton property lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to require that the bank use our Congleton conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Congleton conveyancing lawyer to apply to be on the conveyancing panel.
My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Congleton. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
I am refinancing my home in Congleton, does my lawyer have to be on the Kent Reliance Solicitor panel?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am purchasing a victorian detached house in Congleton. We would like to carry out a loft conversion at the property.Will the conveyancing process include enquiries to ascertain if these alterations are permitted?
Your conveyancer should check the deeds as conveyancing in Congleton will sometimes reveal restrictions in the title deeds which restrict categories of alterations or require the consent of another owner. Certain additions need local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I am selling my flat. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Yorkshire BS are being pedantic. The Congleton solicitor who is on the Yorkshire BS conveyancing panel is recommending indemnity insurance as a solution but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Yorkshire BS have agreed my home loan in principle, my offer on a flat in Congleton has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (ensure that the lawyers are on the lender’s panel). Call up Yorkshire BS or your broker and complete any relevant documentation. Yorkshire BS will sellect a valuer who will get in touch with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. Yorkshire BS will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Congleton.
I am looking for a flat up to £245,000 and identified one near me in Congleton I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Congleton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could 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 current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
All being well we will complete the sale of our £225,000 garden flat in Congleton next Monday. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Congleton?
Congleton conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They are at liberty to invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I own a 1 bedroom flat in Congleton, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Congleton with over 90 years remaining are worth £211,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2092
You have 67 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.