Finally, a mortgage agreement from HSBC for the refinancing of my 2 bedroom garden flat is coming within the next few days. Are you able to put forward a low cost conveyancing lawyer in Hyde?
You are on the wrong site if you are seeking cut-price fees for conveyancing in Hyde. We can offer you affordable conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing companies seducing you with £99 conveyancing in Hyde. In your best case scenario, in being led by cheap conveyancing, you will get your money’s worth and at worst you will end up with a hefty uplift in additional fees and still not end up with the service expected.
My lawyer has discovered a a problem with the lease for the flat we are buying in Hyde. The other side have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. 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 lawyer will have no choice but to discontinue acting for you.
I have 70 years remaining on my lease and require a lease extension for my apartment in Hyde. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/4/2025 the requirements read as follows :
How does conveyancing in Hyde differ for newly converted properties?
Most buyers of new build residence in Hyde contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Hyde usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hyde or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Hyde I like with open areas and transport links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Hyde suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Am I right to be concerned by estate agents that I am dealing with are suggesting an online conveyancing firm rather than a High Street Hyde conveyancing firm?
As with lots of service providers, often input from family and friends can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing deal; estate agents, financial adviser and lenders may suggest solicitors to select. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the endorsement. You are free to select your preferred conveyancer. Don't forget that most mortgage providers specify a panel list of solicitors you are obliged to use for the mortgage aspect of your transaction.