Completed the sale of my flat in Ramsbottom last July but the buyer keeps calling me to say his conveyancer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Following your house sale your conveyancer should forward the transfer documentation and all additional paperwork to the buyer’s lawyers. Where appropriate, your solicitor should also evidence that the home loan has been redeemed to the buyers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Ramsbottom.
We are buying a 1 bedroom apartment in Ramsbottom with a residential mortgage from National Westminster Bank.We have a Ramsbottom conveyancing practitioner but National Westminster Bank informed us she’s not listed on their "panel". We have to appoint a National Westminster Bank panel solicitor or retain our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that lawyers must be on the National Westminster Bank approved list. Until recently, most lenders 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank
My stepmother pointed out to me me that in buying a property in Ramsbottom there may be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Ramsbottom which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Ramsbottom should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Ramsbottom CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved firms?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I am selling my apartment. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Co-operative are being problematic. The Ramsbottom solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been told that property searches are a common reason for stalling in Ramsbottom house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Ramsbottom.
Just acquired a detached house in Ramsbottom , how long should it take for the Land Registry to deal with the formalities evidencing my title? My Ramsbottom conveyancing solicitor works at snail pace, so I want to check the land registry aspects are dealt with.
There is nothing unique when it comes to conveyancing in Ramsbottom registration formalities. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd parties. At present roughly three quarters of such applications are completed within two weeks but occasionally there can be extensive delays. Historically registration takes place after the buyer has moved in to the premises so an expedited registration is not always primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Ramsbottom. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Ramsbottom are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Ramsbottom so you should seriously consider shopping around for a Ramsbottom conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.
I purchased a 1 bedroom flat in Ramsbottom, conveyancing formalities finalised 5 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Ramsbottom with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2078
With 54 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.