My partner and I are only a couple days away from an exchange on a flat in Audlem and my parents have sent the ten percent deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancing practitioner is duty bound to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a search directory listing law firms on the Co-operative conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Audlem?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Audlem.
How does conveyancing in Audlem differ for new build properties?
Most buyers of new build or newly converted property in Audlem come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Audlem usually buy the real estate, 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 Audlem or who has acted in the same development.
I'm remortgaging my primary house to a buy to let mortgage with Yorkshire Building Society and intend to use the remaining equity towards further house. The location we are talking about is Audlem. Will your lawyers be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our search tool on this site to be sure that the lawyers are on the relevant lender panels. Assuming that they are the lawyer should be able to connect the two deals but you should talk with you lawyer and make clear your expectations and requirements.
Planning to exchange soon on a ground floor flat in Audlem. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Audlem should include some of the following:
Repair and maintenance of the premises The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Where does the liability rest to repair and maintain the building. It is essential for you to know which party is duty bound to repair and maintenance of all parts of the block and communal areas Whether your lease caters for for a reserve fund for major works?
I am the registered owner of a ground floor flat in Audlem, conveyancing was carried out in 2011. Can you work out an approximate cost of a lease extension? Comparable properties in Audlem with an extended lease are worth £175,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2080
With 58 years unexpired we estimate the premium for your lease extension to span between £23,800 and £27,400 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
What can I expect to pay for conveyancing in Audlem?
The amount you are charged for conveyancing in Audlem can differ significantly from lawyer to lawyer. In the circumstances it all the more critical for you to have a full summary of charges before you appoint a solicitor. One should always seek two or more fee estimate.