We are close to exchanging contracts on the sale of our property in Horwich and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A high street Horwich conveyancer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing outfit rather than a conveyancing solicitor in Horwich. We have lived in Horwich for 5 years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
four months have elapsed since my purchase conveyancing in Horwich concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Horwich with a mortgage from Virgin Money. The developers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my lawyer about the extras as it would impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm remortgaging my primary house to a buy to let loan with The Mortgage Works and I will use the rest of the raised equity towards another property. The location we are talking about is Horwich. Will your solicitors be able to act for both sets of mortgage companies and link together the conveyances?
Make use of our search tool on this site to ensure that the lawyers are approved by both lenders. Assuming that they are your solicitor should be able to connect the two deals but you should talk with you lawyer and make apparent your expectations and needs.
I’m about to sell my ground floor apartment in Horwich. Conveyancing lawyers have not yet been instructed, but I have recently received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge as usual because all rents and maintenance payments will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I inherited a 1st floor flat in Horwich, conveyancing was carried out in 2000. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Horwich with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2081
With 56 years unexpired we estimate the price of your lease extension to range between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
My partner and I are buying a ground floor flat in Horwich. At the time of instructing our conveyancing practitioner, they said that they were on all major UK bank panels. The mortgage broker emailed yesterday to say that they are not on the Principality approved list. Were it to be true, what should we do? Should we simply pick a different lawyer that is on their approved list or do we pay for dual representation, with Principality selecting their own preferred solicitor.
Where you are acquiring a property requiring a mortgage it is standard for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a lawyer has to be on that lender's list of approved lawyers. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to satisfy. Some mortgage companies now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should call Principality to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Principality's conveyancing panel as you are at liberty to use your preferred Horwich lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.