The Bolton conveyancing firm handling our Bolton conveyancing has discovered a discrepancy between the information in the home valuation report and what is revealed within the legal papers for the property. My solicitor says that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are buying a apartment in Bolton. It might be a silly question but how we can trust a lawyer? At some point we will need to put funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I just acquired a house at auction in Bolton. Conveyancing is needed. What are my next steps?
Now that you have legally bound yourself to purchase you should find a conveyancing solicitor as a matter of priority as you are faced with a tight a fixed date to complete the property. An auction property will have an associated auction pack. This will include evidence of title and search results. Where you are dealing with leasehold property the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that your finances are in place to complete on the on the contractual date .
Can I be sure that the Bolton conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Bolton obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your conveyancing.
I am buying my first flat in Bolton with a mortgage from Aldermore. The developers would not budge the price so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my conveyancer about this side-deal as it could jeopardize my loan with the lender. 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.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Bolton I like with a park and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Bolton for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
How do I locate a Bolton law firm on the Aldermore conveyancing panel? I drive a motor bike and am happy to travel upto 25kilometers to meet the lawyer.
You can use the search on this website. Please select a bank and your location and you will see a number of Bolton conveyancing lawyers located nearest you. We have detailed some Bolton conveyancing firms at the bottom of this page and you can contact them to verify whether they are on the Aldermore member panel
My wife and I purchased a leasehold house in Bolton. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Bolton who previously acted has long since retired. Any advice?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Bolton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a 1 bedroom flat in Bolton, conveyancing was carried out in 2004. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bolton with over 90 years remaining are worth £190,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2083
With only 61 years remaining on your lease we estimate the price of your lease extension to span between £18,100 and £20,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should 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.