We are purchasing a 3 bedroom apartment in Manningtree with a mortgage. We would like to retain our Manningtree conveyancer, however the bank says she’s not on their "panel". It seems we have no choice but to appoint one of the bank panel firms or continue with our Manningtree property lawyer and pay for one of their panel firms to represent them. This feels very unfair; are we not able to demand that the mortgage company use our Manningtree solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Manningtree conveyancing lawyer to apply to be on the conveyancing panel.
It is is a decade since I bought my home in Manningtree. Conveyancing lawyers have just been appointed on the sale but I am unable to find my title deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be with your lender or they may be in the possession of the lawyers who acted in your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Manningtree involves registered property but in the rare situation where your property is unregistered it is more tricky but is not insurmountable.
We wanted to use a conveyancing solicitor in Manningtree for our home move. Our broker informed us that our mortgage company HSBC Bank won't deal with them. Why is this not regarded as unduly restrictive?
A bank can insist on a panel solicitor act for it. Borrowers are expected to meet the cost of this. Do use our database to select a solicitor to conduct conveyancing in Manningtree on the HSBC Bank approved list of solicitors.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Manningtree 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 Manningtree for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
My husband and I are FTB’s - agreed a price, yet the property agent advised that the vendor will only proceed if we appoint the agent's chosen conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Manningtree
We suspect that the owner is not behind this requirement. Should the vendor desire ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Speak to the vendors direct and make the point that (a)you are motivated buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Manningtree conveyancing lawyers - not the ones that will provide the estate agent a kickback or meet his conveyancing thresholds demanded by senior management.
My wife and I purchased a leasehold house in Manningtree. Conveyancing and Barclays mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Manningtree who previously acted has long since retired. What should I do?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Manningtree conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a split level flat in Manningtree, conveyancing formalities finalised 3 years ago. How much will my lease extension cost? Corresponding properties in Manningtree with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease ends on 21st October 2086
With 61 years remaining on your lease we estimate the premium for your lease extension to range between £18,100 and £20,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.