I am in the throes of switching my domestic mortgage to a BTL Nationwide Building Society mortgage. I have been informed by my broker that I need a lawyer as part of the process. I had a chat the same Tyldesley conveyancing solicitor who who completed the conveyancing when I originally purchased the premises. The quote provided of £450 plus VAT has taken me by surprise as its a remortgage than a sale or purchase.
The estimate does seem a little steep. Where you are willing to spend time scrutinising charges you may be able to reduce the fees slightly by say £125. That being said, providing that you were pleased with the legal work the firm provided you couldlive to rue choosing an an unknown lawyer. If is important to be sure the conveyancer can act for Nationwide Building Society. You can employ our search tool to choose a Tyldesley conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Tyldesley.
Do the conveyancing practitioners identified through your search tool carry out right to buy conveyancing in Tyldesley?
We do have a number of conveyancing practitioners who can conduct right to buy conveyancing matters You should call us in order to secure a costs illustration.
My wife and I own a semi-detached Victorian house in Tyldesley. Conveyancing lawyer represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tyldesley and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing practitioner who conducted the purchase.
I am buying my first flat in Tyldesley benefiting from help to buy. The sellers refused to budge the amount so I negotiated £7000 of extras instead. The property agent suggested that I not inform my solicitor about the extras as it could impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Tyldesley is where the house is located. Can you offer any opinion?
Flying freeholds in Tyldesley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tyldesley you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tyldesley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am a negotiator for a long established estate agent office in Tyldesley where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Tyldesley conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 purchaser.
I bought a split level flat in Tyldesley, conveyancing formalities finalised in 1998. Can you work out an approximate cost of a lease extension? Corresponding flats in Tyldesley with over 90 years remaining are worth £191,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2079
With 54 years unexpired the likely cost is going to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns 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 before seeking the advice of a professional.