We're in Ashton under Lyne, FTBs buying with a mortgage (lender is HSBC , and our lawyer is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I purchased a semi-detached Victorian property in Ashton under Lyne. Conveyancing solicitor acted for me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the exact same address. Is it worth asking Nationwide Building Society to clarify?
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 Ashton under Lyne and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing lawyer who conducted the work.
How does conveyancing in Ashton under Lyne differ for newly converted properties?
Most buyers of new build or newly converted property in Ashton under Lyne contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Ashton under Lyne typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ashton under Lyne or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Ashton under Lyne I like with open areas and station in the vicinity, however it only has 52 years on the lease. There is not much else in Ashton under Lyne for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
As co-executor for the will of my grandfather I am selling a residence in Monmouth but reside in Ashton under Lyne. My lawyer (approximately 235 kilometers from meneeds me to sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Ashton under Lyne who can attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are based in Ashton under Lyne
Last October I purchased a leasehold house in Ashton under Lyne. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Ashton under Lyne - Examples of Questions you should consider Prior to Purchasing
How much is the ground rent and service charge? Can you inform me if there are any major works on the horizon that will increase the maintenance costs? Plenty Ashton under Lyne leasehold apartments will incur a service bill for maintenance of the block set on behalf of the landlord. If you acquire the flat you will have to meet this charge, usually periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant sum, say about £50-£100 but you need to enquire as occasionally it can be many hundreds of pounds.