Me and my wife are purchasing our first house. Our conveyancer has e-mailedto ask if we would like to order additional conveyancing searches. We are really unsure what's relevant for conveyancing in Audlem
The number and type of Audlem conveyancing searches depends entirely on the premises, the location, the possibility of any of these risks, your knowledge of the region and risks, your overall appetite to risk. What is important is that you adequately comprehend what information the searches could provide. Then you can decide if you personally think you need that search. If in doubt, ask your lawyer to recommend.
Forgive me if this question is silly but I am new to the home moving as FTB of a garden flat in Audlem. Do I receive the keys to the premises on the completion date from my lawyer? If so, I will use a local conveyancing solicitor in Audlem?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to receive the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
I currently have a mortgage with Nationwide for my property in Audlem. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will permit you to let 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 Nationwide directly. You need not do this via a Nationwide conveyancing panel solicitor.
It is not clear whether my bank requires a lease extension. I have called into my local Audlem building society branch on numerous occasions and was advised it wasn't an issue and they will lend. My Audlem conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their specific requirements. Who do I believe?
Provided that the conveyancer is on the lender panel, she or he must follow the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Various online forums that I have come across warn that are the number one reason for obstruction in Audlem house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Audlem.
It has been five months since my purchase conveyancing in Audlem took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 asset 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.
I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Audlem I like with open areas and station nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Audlem in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I am looking to buy a flat and need a conveyancing solicitor in Audlem who is on the mortgage company solicitor panel. Can you recommend a Audlem or local Audlem solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who do conveyancing in Audlem. We dont recommend any particular solicitor.