My husband and I are buying a 3 bedroom flat in Ardwick with a mortgage. We like our Ardwick conveyancer, however the lender says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Ardwick solicitor and pay for one of their panel lawyers to represent them. We consider that this is inequitable; can we not insist that the bank use our Ardwick lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Ardwick conveyancing solicitor to apply to be on the conveyancing panel.
I have given 8 weeks notice to my existing landlord and have to vacate my rented flat in Ardwick by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in 5 weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to serve notice on a rental unless exchange of contracts has taken place. Assuming that you have not previously done so, contact to your conveyancer and request that they chase the sellers side, try to get a realistic time scale from them that all parties will look towards
In what way does my ID and proof of funds have anything to do with my conveyancing in Ardwick? What am I being asked for?
Ardwick conveyancing solicitors and indeed property lawyers accross the UK have an obligation under money laundering regulations to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Proof of the origin of monies is also required under the money laundering statutes as solicitors are mandated to investigate that the money you are utilising to buy a property (be it the exchange deposit or the total purchase amount if you are buying without a mortgage) has originated from an acceptable source (such as employment savings) and is not the product of criminal activity.
Should our conveyancer be making enquiries regarding flooding as part of the conveyancing in Ardwick.
Flooding is a growing risk for lawyers dealing with homes in Ardwick. Some people will acquire a property in Ardwick, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a numerous searches that may be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Ardwick. The standard completed inquiry forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover if the property has suffered from flooding. In the event that the property has been flooded in past and is not revealed by the owner, then a purchaser may issue a claim for damages as a result of such an inaccurate reply. A buyer’s conveyancers should also order an enviro report. This will higlight if there is a recorded flood risk. If so, additional investigations should be initiated.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Ardwick is where the house is located. Can you offer any guidance?
Flying freeholds in Ardwick are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ardwick you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ardwick 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.
Back In 2000, I bought a leasehold flat in Ardwick. Conveyancing and National Westminster Bank mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Ardwick who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Ardwick conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Ardwick - Examples of Queries Prior to Purchasing
The answer will be helpful as a) areas can cause problems in the building as the common areas may start to deteriorate where services are not paid for b) if the leaseholders have an issue with the managing agents you will need to know about it Is the freehold reversion owned jointly by the tenants? You should be aware that where the lease has fewer than 80 years it will affect the marketability of the property. It is worth checking with your lender that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of what this would cost. For most Ardwicklease extensions you would be be obliged to have owned the property for a couple of years in order to be legally able to carry out a lease extension.