We decided to go with a high street firm for my conveyancing in Mossley recently. Going through the Ts and Cs I seeI am responsible for charges even if our purchase doesn't happen. Should I ditch them and select a web based solicitor practice promoting no-sale-no-fee conveyancing in Mossley?
Generally there is a compromise along the lines that if "No Completion No Fee" is available then the fee levels will tend to be be higher to cover the transactions that abort. Dont forget that these promotions generally do not protect you from expenditure for instance Mossley conveyancing search costs.
My wife and I swapping mortgage lender for our apartment in Mossley with Kent Reliance. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We are purchasing a victorian detached house in Mossley. Our aim is to carry out an extension to the side at the house.Will legal investigations on the property include checks to determine if these alterations were previously refused?
Your property lawyer will review the registered title as conveyancing in Mossley can sometimes identify restrictions in the title deeds which prohibit certain alterations or necessitated the permission of another owner. Some additions need local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
When it comes to mortgage companies such as Coventry BS, do Mossley conveyancers face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Mossley bank branch on various occasions and was reassured it wasn't a problem and they will lend. My Mossley conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The conveyancer must comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
My partner and I are intent on selling our house in Mossley and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed an online conveyancing outfit rather than a conveyancing solicitor in Mossley. Having lived in Mossley for many years we know of no issue. Do we get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You should 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 health insurance to cover that same illness)
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Mossley I like with open areas and railway links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Mossley for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
What makes a Mossley lease problematic?
There is nothing unique about leasehold conveyancing in Mossley. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
I own a studio flat in Mossley, conveyancing was carried out February 2003. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Mossley with a long lease are worth £222,000. The ground rent is £50 per annum. The lease terminates on 21st October 2095
You have 70 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered 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 getting professional advice.