We note that you have a post code search directory listing law firms on the Kent Reliance conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Bollington?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bollington.
Please explain the implications if my solicitor is removed from the RBS Conveyancing panel ahead of completing my conveyancing in Bollington?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am buying my first flat in Bollington with a loan from Clydesdale. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The property agent advised me not reveal to my solicitor about this side-deal as it could affect my loan with the lender. Is this normal?.
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.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Bollington is where the house is located. What do you suggest?
Flying freeholds in Bollington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bollington you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bollington may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Bollington. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Bollington ?
The majority of houses in Bollington are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Bollington so you should seriously consider shopping around for a Bollington conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
I inherited a basement flat in Bollington, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Comparable properties in Bollington with a long lease are worth £186,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2078
You have 52 years left to run the likely cost is going to range between £29,500 and £34,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
My financial adviser has recommended their lawyer for our conveyancing in Bollington - won’t it be advisable to just use them?
This is not necessarily the case and you are free to instruct whichever solicitor you prefer for your Bollington home move. A conveyancing practitioner suggested by an estate agent may not always be the right property lawyer, they may put forward their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your conveyancer and due to the lack of continuity in the transaction, it may be difficult to obtain updates.