The Congleton conveyancing solicitors that I recently instructed on my purchase in Congleton have without warning closed. I only went with them because I needed a lawyer on the Clydesdale conveyancing panel and my preferred Congleton lawyer was not. I paid them £170 on account. What do I do now?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I'm the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Congleton. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many banks would take a practical view as this requirement chiefly exists to capture subsales or the wholesaling and assigning of property.
I had an offer accepted on a property in Congleton on 15/8/2022, valuation was booked 2 days later, all came back fine. Property lawyer retained, so all that was missing was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
At last I have had an offer on a maisonette in Congleton agreed to, the vendors do however have a tied purchase. The owners have offered on a flat, but it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Congleton. What do I do now? When should I get the mortgage application with Nationwide started?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Congleton conveyancing search charges, etc). First, you should ensure that your conveyancer is on the Nationwide conveyancing panel. Concerning the subsequent phase this very much dictated by the uniqueness of your transaction, desire for this property and on the state of the market. During a hot market some home buyers will apply for a home loan with Nationwide and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to move forward with the conveyancing in Congleton.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Congleton I like with a park and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Congleton suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage that many years will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I need to find a conveyancing solicitor for my conveyancing in Congleton. I have land on a site which seems to have the ideal answer If there is a chance to get all formalities completed via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
When it comes to leasehold conveyancing in Congleton what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Congleton. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.
I own a 2 bed flat in Congleton, conveyancing having been completed December 2004. Can you work out an approximate cost of a lease extension? Equivalent properties in Congleton with a long lease are worth £206,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2087
With 65 years unexpired the likely cost is going to span between £13,300 and £15,400 as well as costs.
The figure that we have given is 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 may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Why can I not complete my conveyancing in Congleton on Easter Monday?
This is due to the fact that on completion the money needs to be transferred electronically between the banks of the buyer and seller's conveyancer and currently this can only happen on a working day. So you can't complete on a weekend either.