Our conveyancer has uncovered a a legal deficiency with the lease for the flat we are buying in Congleton. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the mortgage company is content with this solution. Who is the client here, us or the lender?
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 specifications. 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 solicitor will have no choice but to discontinue acting for you.
Why do I have to pay up front when it comes to conveyancing in Congleton?
If you are buying a property in Congleton your lawyer will ask you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the purchase price then this should be required immediately in advance of exchange of contracts. Any further balance that is due should be transferred a couple of days ahead of the completion date.
We are buying a detached bungalow in Congleton. Our aim is to carry out a loft conversion at the property.Will the conveyancing process include checks to see if these works were previously refused?
Your conveyancer should check the registered title as conveyancing in Congleton can occasionally identify restrictions in the title deeds which restrict categories of alterations or require the consent of another owner. Certain extensions call for local authority planning consent 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 apartment. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being difficult. The Congleton solicitor who is on the HSBC conveyancing panel is saying indemnity insurance will be fine but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC 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.
HSBC have agreed my home loan in principle, my offer on a flat in Congleton has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (be sure the conveyancers are on the lender’s approved list). Call up HSBC or the broker and finalise any relevant documentation. HSBC will sellect a valuer who will get in touch with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. HSBC will issue 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.
A friend advised me that if I am purchasing in Congleton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Congleton conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Congleton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Congleton Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Congleton Education with plans and statistics, Local Amenities and other useful data regarding Congleton.
I am looking into buying my first house which is in Congleton and I am already nervous. I couldn't find anything specific about Congleton. Conveyancing will be needed in due course but do you know about the Congleton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Congleton. In the meantime here are some basic statistics that we found
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Congleton. I am keen to get lease extension but my landlord is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases a specialist would be helpful to conduct investigations and to produce a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Congleton.
I acquired a 1 bedroom flat in Congleton, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Congleton with a long lease are worth £195,000. The ground rent is £45 per annum. The lease ends on 21st October 2088
With only 63 years unexpired the likely cost is going to range between £16,200 and £18,600 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.