My partner and I are buying an apartment in Audlem. My Conveyancer is not on the bank approved list. Am I still permitted to use my Audlem conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
You have a couple of choices open to you here
- Complete the deal with your existing Audlem property lawyer but your lender will no doubt use a property lawyer from their conveyancing panel. The net result is additional fees and potential delay.
- Appoint a fresh conveyancer to act in the purchase, ensuring that they are on the bank conveyancing panel.
- Appeal to your property lawyer to seek to join the bank panel
It has been 4 months following my purchase conveyancing in Audlem concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Audlem differ for new build properties?
Most buyers of new build residence in Audlem contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Audlem typically buy the land, 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 property lawyers 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 Audlem or who has acted in the same development.
Should I appoint a Audlem conveyancing practitioner who is local to the property I am hoping to buy? I have an old university friend who can execute the legal work but her office is a couple of hundredmiles away.
The primary upside of using a high street Audlem conveyancing firm is that you can attend the office to sign paperwork, hand in your identification documents and pester them where appropriate. Having local Audlem know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and they were content that must surpass using an unknown Audlem conveyancing lawyer just because they are round the corner.
Last February I purchased a leasehold house in Audlem. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. However, 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 be sure 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).
I own a split level flat in Audlem, conveyancing having been completed in 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Audlem with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ends on 21st October 2085
You have 59 years left to run we estimate the premium for your lease extension to range between £20,900 and £24,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Our solicitor in Audlem has uncovered a defect with the lease for the property we are buying in Audlem. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Audlem conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions must be adhered to by the bank conveyancing panel who has to balance acting for you and the lender