Can you explain why leasehold purchase conveyancing in Didsbury is more expensive?
In summary, leasehold conveyancing in Didsbury and elsewhere usually necessitates more hours of investigation compared to freehold transactions. This includes lease investigation, communicating with the landlord concerning the service of required notices, procuring up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
I have paid off my mortgage with Coventry BS. I assume I don't need a Didsbury lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Didsbury building society branch on various occasions and was advised it wasn't a problem and they would lend. My Didsbury conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the property lawyer is on the lender panel, she or he must comply with the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Intending to buy a apartment in Didsbury. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money 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 Didsbury conveyancing practitioner is on the Virgin Money conveyancing panel.
A friend recommended that where I am purchasing in Didsbury I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Didsbury conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Didsbury around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Didsbury Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Didsbury.
I have recentlybeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Didsbury for a purchase of a leasehold apartment 12 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest method to check if the property is registered to you, you can make 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 Didsbury conveyancing specialists.
I'm purchasing a new build house in Didsbury with a loan from Barclays . The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my conveyancer about this side-deal as it may impact my loan with the bank. Is this normal?.
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.
As co-executor for the estate of my uncle I am selling a house in Neath but I am based in Didsbury. My solicitor (based 200 kilometers from mehas requested that I execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Didsbury who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Didsbury based