Our lawyer has discovered a a problem with the lease for the property we are buying in Congleton. The other side have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must be satisfied that the bank is content with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
We wanted to use a conveyancing solicitor in Congleton for our house purchase. Our financial adviser has since advised us that our bank Bank of Ireland won't deal with them. Surely this is unfair competition?
Pre- 2008 most banks had an appetite for risk which was higher than today. Almost all Congleton conveyancing firms would have been on many mortgage company panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms regarding their operations and their employees and set certain criteria such a completing on a minimum volume of transactions. Many Congleton conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Congleton is amongst the hundreds of areas where the solicitors we list are members of the panel for Bank of Ireland.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Congleton I like with amenity areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Congleton for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan that many years will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Am I right to be concerned that brokers that I am dealing with are recommending a national conveyancing firm as opposed to a High Street Congleton conveyancing firm?
As is the case with many service providers, often suggestions from family and friends can be very helpful. Yet there are numerous players in a conveyancing deal; estate agents, mortgage brokers and banks might all put forward solicitors to choose. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You are free to appoint your preferred conveyancer. Don't forget that many lenders specify a panel list of law firms you have to use for the lender aspect of your conveyancing.
Is it best to use a Congleton conveyancing practitioner based in the location that I am buying? I have an old university friend who can deal with the legal work however her office is approximately 350miles away.
The benefit of a local Congleton conveyancing practice is that you can attend the office to execute paperwork, deliver your identification documents and pester them where appropriate. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and they were happy that must trump using an unknown Congleton conveyancing solicitor solely due to them being round the corner.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £225,000 flat in Congleton in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Congleton?
For the majority of leasehold sales in Congleton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-exchange enquiries
Where consent is required before sale in Congleton
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Congleton Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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For many Congleton leaseholds the outlay for major works tend not to be included within maintenance charges, albeit that there some managing agents in Congleton ask leasehold owners to contribute towards a reserve fund and this is used to offset against major works. What prohibitions are contained in the Congleton Lease? Is anyone aware of any major works anticipated that could add a premium to the maintenance charges?