I am one month into the sale of my apartment in Cheadle and the estate agent has just e-mailed to warn that the purchasers are appointing a new conveyancer. The excuse is that the bank will only engage with property lawyers on their approved list. On what basis would a leading lender only work with specific solicitors rather the firm that they want to choose for their conveyancing in Cheadle ?
Lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I require conveyancing for a flat in a fairly new development (five years old) in Cheadle. 95% of the flats are already disposed of. Do I need carry out the conveyancing searches for my conveyancing in Cheadle?
You would be putting yourself at risk in not carrying out Cheadle conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would strongly advise in the strongest possible terms that you have them. If accelerating the process and driving down costs are primary issues you should consider with your solicitor about the possibility of search insurance
My wife and I buying a 3 bedroom semi in Cheadle. We would like to convert the garage to a playroom at the property.Will legal work on the property include investigations to ascertain if these works are allowed?
Your solicitor will review the registered title as conveyancing in Cheadle will on occasion reveal restrictions in the title documents which prevent categories of works or need the consent of another owner. Certain extensions need local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
Completion of my purchase has taken place for my property in Cheadle. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Intending to buy a maisonette in Cheadle. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cheadle conveyancing practitioner is on the UBS conveyancing panel.
I have been sourcing a conveyancing practitioner in Cheadle for my remortgage. Is it possible to review a solicitor's complaints history with the legal regulator?
One may search for presented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator could monitor telephone calls for training purposes.
I am attracted to a two flats in Cheadle both have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Cheadle. The lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field.
I bought a split level flat in Cheadle, conveyancing having been completed March 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Cheadle with over 90 years remaining are worth £222,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2095
With 71 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. 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 taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
How much should conveyancing in Cheadle cost?
The total sum charged for Cheadle conveyancing costs are likely to be calculated at:
- a standard amount; or
- on a time spent basis (i.e. the time spent on the particular case).
In practice you seldom hear of Cheadle conveyancing companies invoice on an hourly basis