Will lawyers request an advanced payment for my conveyancing in Pendlebury?
If you are buying a property in Pendlebury your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the purchase price then this should be asked for immediately in advance of exchange of contracts. Any further balance that is due should be transferred a couple of days ahead of the day of completion.
we are a couple who decided to purchase a purpose built flat in Pendlebury with a homeloan from TSB.We like our Pendlebury conveyancing lawyer but TSB informed us he's not on their approved list of firms. we are left little option but to use a TSB panel solicitor or keep our high street solicitor and fork out for a TSB panel lawyer to act for them. This seems very unfair; Can we not simply insist that TSB use our lawyer?
Unfortunately,no. The mortgage issued to you is subject to its various provisions, a common one being that lawyers must be on the TSB solicitor panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for TSB
How can we tell if a Pendlebury conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Pendlebury obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your transaction.
We expect to receive a OIP from TSB this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any Pendlebury solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Pendlebury solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Pendlebury solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Pendlebury surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How do I search for a Pendlebury solicitor on the The Royal Bank of Scotland conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the conveyancer.
Feel free to make use of the search on this website. Please pick a lender and your location and you will see a number of Pendlebury conveyancing lawyers located nearest you. We have detailed some Pendlebury conveyancing firms at the bottom of this page and you can call them to see if they are on the The Royal Bank of Scotland member panel
Should I go with a Pendlebury conveyancing solicitor who is local to the property I am buying? We have a good friend who can perform the conveyancing but her office is 300miles away.
The primary upside of using a high street Pendlebury conveyancing practice is that you can drop in to execute documents, hand in your ID and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were happy that should surpass using an unfamiliar Pendlebury conveyancing solicitor solely due to them being local.
I am a negotiator for a long established estate agent office in Pendlebury where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Pendlebury conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a 2 bed flat in Pendlebury, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Pendlebury with an extended lease are worth £265,000. The ground rent is £50 levied per year. The lease expires on 21st October 2101
With 76 years unexpired the likely cost is going to be between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.