I was informed recently by my estate agent that my Holmes Chapel solicitor is not on the mortgage company Conveyancing panel. How can I check?
The first thing you need to do is to call your Holmes Chapel conveyancer. You lawyer should notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
My husband and I are only a couple days away from an exchange on a house in Holmes Chapel and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancing practitioner is duty bound to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
A colleague suggested that where I am buying in Holmes Chapel I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Holmes Chapel conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Holmes Chapel around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Holmes Chapel Education with maps and statistics, Local Amenities and other useful data regarding Holmes Chapel.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Holmes Chapel is where the house is located. Can you shed any light on this issue?
Flying freeholds in Holmes Chapel are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Holmes Chapel you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Holmes Chapel may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Taking into account that I will soon spend hundreds of thousands of pounds on a garden flat in Holmes Chapel I would like to talk to a lawyer concerning thetransaction ahead of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor due to be conducting your property ownership legalities in Holmes Chapel.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Holmes Chapel should be the amount on the final invoice that you end up paying.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Holmes Chapel. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Holmes Chapel ?
The majority of houses in Holmes Chapel are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Holmes Chapel so you should seriously consider shopping around for a Holmes Chapel conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.
I own a studio flat in Holmes Chapel, conveyancing was carried out May 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Holmes Chapel with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2078
With just 54 years unexpired the likely cost is going to be between £32,300 and £37,400 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.