I plan on buying a leasehold flat in Great Sankey. My Solicitor is not on the lender approved list. Am I still permitted to retain my Great Sankey conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
You have numerous choices available to you here
- Carry on with your existing Great Sankey conveyancing practitioner but your bank will no doubt use a conveyancer from their conveyancing panel. This will result in additional fees and likely interruption.
- Get a fresh lawyer to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Appeal to your conveyancing practitioner to apply to join the mortgage company panel
Me and my partner are due to exchange on the purchase of a house in Great Sankey but as a result of damage from some water damage at the property I have was able negotiate reparation from the seller of £3k taking the form of a adjustment in the price. This was going to be dealt with as part of amending the contract however UBS will not agree to this. Why were they approached?
The property lawyer that is on the UBS conveyancing panel is obliged to advise UBS of any changes to the sale price. If you were to refuse your conveyancer to disclose the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Great Sankey.
We're in Great Sankey, FTBs purchasing with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are purchasing a flat in Great Sankey. I might seem paranoid but how we can trust a solicitor? At some point we have to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We were going to get a OIP from Aldermore this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Great Sankey solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Great Sankey solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I was told two weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Great Sankey is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
In my capacity as executor for the will of my grandfather I am selling a property in Newport but I am based in Great Sankey. My solicitor (approximately 235 kilometers awayneeds me to sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing solicitor in Great Sankey who can witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Great Sankey based
What are the common defects that you witness in leases for Great Sankey properties?
Leasehold conveyancing in Great Sankey is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain parts of the premises Maintenance charge proportions which don’t add up to the correct percentage
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I purchased a studio flat in Great Sankey, conveyancing was carried out June 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Great Sankey with an extended lease are worth £265,000. The ground rent is £50 yearly. The lease terminates on 21st October 2102
With 76 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.