My wife and I purchased a 4 bedroom Edwardian house in Manchester. Conveyancing practitioner represented me and Coventry Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching address. Is it worth asking Coventry Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Manchester and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
I am purchasing my first flat in Manchester with a loan from The Mortgage Works. The sellers would not reduce the price so I negotiated £7000 of extras instead. The sale representative advised me not reveal to my conveyancer about the deal as it will impact my mortgage with the bank. 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 am looking for a flat up to £195,000 and identified one close by in Manchester I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Manchester for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
How does the Landlord & Tenant Act 1954 impact my commercial offices in Manchester and how can you help?
The 1954 Act provides protection to commercial leaseholders, granting the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Manchester is one of the many areas of the UK in which our lawyers are based
My husband and I are 3 weeks into a freehold purchase having been recommend to a firm by the selling agent to handle our conveyancing in Manchester. We are not happy. Could you help me find new solicitors?
They would have to be very poor to suggest changing them. Has the mortgage offer been issued? In the event that it has you will need to make them aware of the new solicitor and get the offer are issued to the new lawyers. The conveyancer should be on the mortgage company panel to avoid escalating charges and frustration. So that should be your starting point. The find a solicitor tool can help you find a lender approved lawyer for your home move in Manchester
Been on the hunt for a conveyancing practitioner for freehold sale conveyancing in Manchester. We are selling, uncomplicated no mortgage to pay off, no rush, no onward purchase. Received an estimate from a solicitor for a thousand pounds excluding VAT which is a little steep considering its so straightforward. Can I pay less for conveyancing in Manchester?
Considering it’s a sale only, £425 + VAT should be about the cheapest for a Manchester solicitor firm.