Finally the sale completed on my house in Macclesfield last March yet the purchaser is telephoning daily to moan that her solicitor is waiting to hear from mine. What are the post completion sale formalities following completion?
Post completion of your house sale your lawyer is committed to forward the transfer deeds and all of the paperwork to the buyer’s lawyers. Where appropriate, your solicitor should also confirm that the mortgage has been paid off to the purchasers solicitors. There is unlikely to be post completion procedures unique to conveyancing in Macclesfield.
We are purchasing a terrace house in Macclesfield. We would like to an extension at the rear at the house.Will legal investigations on the property include enquiries to determine if these works are permitted?
Your solicitor should review the registered title as conveyancing in Macclesfield can occasionally identify restrictions in the title deeds which restrict certain alterations or need the permission of another owner. Many additions require local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
is it true that all Macclesfield solicitor firms on the Clydesdale conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do permit licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
I am buying a property in Macclesfield. An unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Virgin Money your lawyer must comply with the formal instructions outlined in Section two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and lawyers are required to report to Virgin Money where a lease fails to comply with these specifications. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Macclesfield.
I have been on the look out for a leasehold apartment up to £305k and identified one close by in Macclesfield I like with a park and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Macclesfield in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
Am I better off to appoint a Macclesfield conveyancing practitioner based in the location that I am hoping to buy? An old friend can handle the legal formalities however her office is approximately 350miles away.
The primary upside of using a high street Macclesfield conveyancing practice is that you can drop in to execute documents, hand in your identification documents and apply pressure on them where appropriate. Having local Macclesfield know how is a plus. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and they were content that should surpass using an unfamiliar Macclesfield conveyancing lawyer solely due to them being Macclesfield based.
I am attracted to a couple of flats in Macclesfield which have about fifty years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Macclesfield. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area.
I invested in buying a basement flat in Macclesfield, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Macclesfield with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2095
You have 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
Is it the case that all Macclesfield legal practices on every lender conveyancing panel?
You can use our search tool or you can go into your high street bank branch in Macclesfield. the probability is that they can recommend conveyancing solicitors in Macclesfield