Can the conveyancing solicitors via your comparison service perform attended exchange conveyancing in Cheetham?
We do have a number of conveyancing experts carrying out one day exchanges. You should e-mail us to obtain a costs illustration and details as to availability.
What does my ID and proof of funds have anything to do with my conveyancing in Cheetham? Why is this being asked of me?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Cheetham. Nowadays you will not be able to proceed with any conveyancing transaction in the absence providing proof of your identity. This usually takes the form of a either your passport or driving licence plus a bank statement. Remember if you are supplying your driving licence as proof of ID it must be both the paper part and photo card part, one is not acceptable in the absence of the other.
Verification of the source of monies is required in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancing solicitor must have this information on record. Your Cheetham conveyancing solicitor will require evidence of proof of funds prior to accepting any monies from you into their client account and they should also ask further questions concerning the origin of monies.
I am in the process of remortgaging my flat in Cheetham, does my lawyer need to be on the UBS Solicitor panel?
In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I have todaybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Cheetham for a purchase of a freehold house 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Cheetham conveyancing specialists.
How does conveyancing in Cheetham differ for newly converted properties?
Most buyers of new build or newly converted property in Cheetham contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because builders in Cheetham usually purchase the land, 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 Cheetham or who has acted in the same development.
I am looking at a two flats in Cheetham both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Cheetham is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cheetham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a 1 bedroom flat in Cheetham, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Cheetham with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2077
With only 55 years left to run the likely cost is going to range between £31,400 and £36,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.