My Chorlton conveyancer has identified an inconsistency between the information in the home valuation report and what is in the legal papers for the property. My solicitor says that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions 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 note that you have a post code search directory listing law firms on the Aldermore conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Chorlton?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Chorlton.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Chorlton. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this allowed?
Where you plan to refinance then Co-operative will insist on your using a conveyancer on the Co-operative conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Co-operative conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Co-operative mortgage is registered as a charge at the Land Registry.
Me and my partner are purchasing a apartment in Chorlton. I might seem paranoid but how we can trust a lawyer? At some point we will need to deposit money into their account. What protection do we have from them run away with our monies?
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 am the single beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Chorlton. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I do know about the CML 6 month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the property in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view lenders take of it, depend on the bank as this obligation principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
I currently have a mortgage with HSBC for my property in Chorlton. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
You must advise HSBC in advance of letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel lawyer.
We are 17 days into a freehold purchase having been recommend to a firm by the estate agent to perform conveyancing in Chorlton. I am am very frustrated with the quality of service. Could you help me find new solicitors?
They would need to be really poor to suggest changing them. Has your loan offer been sent? In the event that it has you will need to inform them of the replacement solicitor and get the offer are re-sent. Your new conveyancer needs to be on the banks panel to avoid supplemental expenses and complications. That should be your first question of the new solicitors. Our find a solicitor tool will help you find a bank approved conveyancer for your home move in Chorlton
I've recently bought a leasehold house in Chorlton. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 1st floor flat in Chorlton, conveyancing was carried out in 1998. How much will my lease extension cost? Similar flats in Chorlton with a long lease are worth £180,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2083
You have 59 years unexpired we estimate the price of your lease extension to range between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information 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 move forward based on this information before getting professional advice.