My husband and I are planning to acquire a property in Ardwick and are in fact using a Ardwick conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Clydesdale have this morning contacted us to inform me that they have now hit a problem as our Ardwick conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property requiring a mortgage it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Ardwick solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
A relative advised me that if I am buying in Ardwick I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Ardwick conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Ardwick around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Ardwick.
I have recentlyfound out that Wolstenholmes have closed. They conducted my conveyancing in Ardwick for a purchase of a leasehold apartment 12 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ardwick conveyancing specialists.
I am buying a new build house in Ardwick with a mortgage from Nottingham Building Society. The builders would not reduce the price so I negotiated 6k of additionals instead. The estate agent told me not to tell my conveyancer about this deal as it could jeopardize my loan with Nottingham Building Society. 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.
What are your top tips when it comes to finding a Ardwick conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Ardwick conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Ardwick conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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What are the costs for lease extension conveyancing? How many lease extensions have they completed in Ardwick in the last twenty four months?
I am the registered owner of a leasehold flat in Ardwick, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Ardwick with a long lease are worth £216,000. The ground rent is £50 yearly. The lease ends on 21st October 2094
With just 69 years left to run the likely cost is going to be between £9,500 and £11,000 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 extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional 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 before seeking the advice of a professional.
Are all Ardwick legal practices on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can go into your local lender branch in Ardwick. Chances are that they can recommend conveyancing solicitors in Ardwick