Do banks and building societies provide you with an approved list of Atherton conveyancing solicitors? How do you know who is on the Aldermore conveyancing panel?
Atherton conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
We had instructed solicitors locally in Atherton on the Principality solicitor approved list. They have just invoiced me a supplemental charge for handling the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. The charge is not set by Principality but by your Atherton property lawyer. Numerous firms on the Principality panel will levy ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
The mortgage over my property is with Lloyds for my property in Atherton. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
Your original mortgage agreement with Lloyds will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. You need not do this via a Lloyds conveyancing panel firm.
After shopping around on the internet I have found a Atherton conveyancing practitioner having made sure that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Atherton postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Atherton.
My wife and I own a renovated Edwardian property in Atherton. Conveyancing practitioner represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same address. Is it worth asking Bank of Ireland to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be 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 Atherton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who conducted the purchase.
I am buying my first flat in Atherton with a loan from Britannia. The builders refused to move on the price so I negotiated £7000 of extras instead. The estate agent told me not reveal to my lawyer about this extras as it will put at risk my loan with the bank. Should I keep quiet?.
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.
Having had my offer accepted I require leasehold conveyancing in Atherton. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Atherton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a split level flat in Atherton, conveyancing was carried out 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Atherton with over 90 years remaining are worth £192,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2075
With just 54 years left to run we estimate the price of your lease extension to be between £32,300 and £37,400 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
I am an executor of my recently deceased mum’s Will, with a property in Atherton which will be marketed. The property is unregistered at the Land Registry and I'm advised that many purchasers will insist that it is completed before they will proceed. What's the procedure for this?
In the circumstances you refer to it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.