What happens if my lawyer’s firm is suspended from the Clydesdale Solicitor panel ahead of completing my conveyancing in Ashton?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are due to move property in December. Should my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you recommend a removal company in Ashton. Conveyancing solicitor was organised before I stumbled across your website.
On the afternoon of completion you can pick up the keys from your selling agent however this can only happen after the sellers conveyancers advise the agent that they have the completion monies and the keys can be released. Subsequently you can advise the removal men that they can start moving you in. We are not in a position to recommend a specific removal company but can help you find a residential property solicitor in Ashton or a solicitor with expertise in conveyancing in Ashton.
Two weeks ago we had a mortgage agreed in principle with Principality. Ashton conveyancing practitioners have been chosen. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality done the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I'm spending time looking at houses in Ashton and I am now considering a potential offer. Should I already have a property lawyer appointed at this point? I will be getting a mortgage with Aldermore.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
My partner and I are downsizing from our property in Ashton and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a web based conveyancing firm rather than a conveyancing solicitor in Ashton. Having lived in Ashton for 4 years we know of no issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am purchasing my first flat in Ashton with a loan from Santander. The sellers refused to budge the amount so I negotiated £7000 of additionals instead. The sale representative advised me not inform my conveyancer about this extras as it would jeopardize 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 have been on the look out for a ground for flat up to £235,500 and found one near me in Ashton I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Ashton in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I own a leasehold flat in Ashton. Conveyancing was finished in 2011. I have been told that I should not allow the lease length fall too low. What is the reasoning?
Ashton residential long term leases are for a prescribed term - normally ninety nine years when they started. However a significant appartments in Ashton were built or converted in the 60’s and so these leases now have under 80 years remaining. This may sound like a long time however Banks, Building Societies and other mortgage companies tend to require leases to have a minimum of seventy five years left to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are getting close to eighty years. To increase your property value you should be considering whether or not to extend your lease long before you come to sell it. You should note that there are strong financial reasons to doing so before the lease reaches even eighty years as when the lease is below eighty years the premium you have to pay to extend starts to increase.