Find a Lender-Approved Local Conveyancer in Farnworth

Ready to buy a new home? Find a law firm approved by your lender.

Follow your intuition—you will have a better home move where you instruct a high street solicitor in Farnworth

Reasons to use our Farnworth conveyancing solicitors

  • 1 Farnworth solicitors are likely to acquainted with the local Land Registry Office, Local Authority and estate agents
  • 2 Farnworth conveyancers have a significant edge when it comes to Farnworth conveyancing as they have valuable local knowledge of local authority requirements, planning policies and other issues that can impact your conveyancing
  • 3 Cut price packages from online conveyancers might be tempting. However, these companies are often located hundreds of miles away with little understanding of the factors that affect property transactions in Farnworth
  • 4 You can rest easier when select the very best, most recommended conveyancing solicitors. Farnworth has a number to choose from, but for a truly dependable and dependable service many local people have been use the recommendation of this site.
  • 5 Firms that specialise in conveyancing in Farnworth regularly deal withlocal issues peculiar to Farnworth and therefore you may benefit from better advice and expeditious conveyancing.

Examples of recent conveyancing in Farnworth since April 2021*

Recently asked questions about conveyancing in Farnworth

My IFA says he needs my Farnworth solicitor’s panel member for the Lloyds conveyancing panel. What is the best way to find this out. I have tried my local Farnworth branch but they have not got back to me yet.

The sensible thing to do is ask for this information from your Farnworth conveyancing practitioner . They retain a central record lender panel numbers.

At what point will exchange of contracts occur in sale conveyancing in Farnworth and do I need to be at the lawyers office?

If you are local to our conveyancing solicitors in Farnworth you are welcome to attend to sign contracts. That being said, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not when everything is set in stone. A signed contract simply enables the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Farnworth)to be in the office at the appropriate time.

I am about to put a bid on a leasehold property in Farnworth. The estate agents assure me that it is the norm for flats in Farnworth to have less than 75 years remaining. I am taking out a loan with The Mortgage Works. Will the property be mortgageable given that the lease has 72 years remaining.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/7/2021 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term.
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:

Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer

New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer

Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term less than 70 years
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period less than or equal to 5 years

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 0.5% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term greater than 85 years
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house
- Starting Ground Rent greater than 0.1% of the property value
- Ground Rent review period less than or equal to 5 years
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Ground Rent is linked to any indices greater than RPI
- Ground Rent is linked to the value of the building*
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 0.5% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- Starting Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than 5 years
- Ground Rent escalation less than or equal to RPI

* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years

The estate agent has sent us the confirmation of our purchase of a new build apartment in Farnworth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Farnworth

    Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Farnworth I like with open areas and transport links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Farnworth suitable, so just wondered if I would be making a mistake purchasing a short lease?

If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may 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 and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

We are hoping to buy a repossessed property in Farnworth and the mortgagee in possession would like to complete inside a week. Do solicitors complete in this timeframe? Would it be better to select a high street Farnworth firm or an online organisation that advertises to complete quickly?

Attend your Farnworth shopping parade. Pop in to two or three companies and ask to talk to a conveyancing solicitor for a quote. Discuss your situation and try and obtain assurances on deadlines. Appoint the one that appears most genuine. Be sure to use a property lawyer on the panel of lawyers who can act for your bank.

Last updated

Sample of conveyancing solicitors in Farnworth regulated by the SRA

It is important to note that the listed firms do not limit their work for conveyancing in Farnworth but also conveyancing throughout England and Wales.

  • Bolton Solicitors, Old Bank Chambers, 97-99 Market Street, Farnworth, Bolton, Lancashire, BL4 7NS
  • Maidstone Solicitors Llp, 308 Manchester Road, Bolton, Lancashire, BL3 2QS
  • Lisa Tonge Solicitors, 30 Egerton Road, Worsley, Manchester, Lancashire, M28 3JY
  • Glp Solicitors, 15 Hulton District Centre, Worsley, Manchester, Lancashire, M28 0BA
  • Abbott & Company, 5 The Old Co-op Buildings, High Street, Worsley, Manchester, Lancashire, M28 3JH

Commercial Conveyancing solicitors in Farnworth regulated by the SRA

The list below is a non-comprehensive list of solicitors in Farnworth specialising in commercial conveyancing in Farnworth. This should include advice on commercial leases including all matters relating to landlord and tenant law
  • Maidstone Solicitors Llp, 308 Manchester Road, Bolton, Lancashire, BL3 2QS
  • Lisa Tonge Solicitors, 30 Egerton Road, Worsley, Manchester, Lancashire, M28 3JY
  • Glp Solicitors, 15 Hulton District Centre, Worsley, Manchester, Lancashire, M28 0BA
  • Widdows Pilling & Co, The Manse, 2b Memorial Road, Walkden, Worsley, Manchester, Lancashire, M28 3AQ
  • Hcb Berry & Berry Limited, 1-5 Longley Road, Walkden, Worsley, Manchester, Lancashire, M28 3JB

Planning law solicitors in Farnworth regulated by the Solicitors Regulation Authority

The list below is a small selection of solicitors in Farnworth practicing in planning law. The solicitors can give expert legal advice on all aspects of planning, including compulsory purchases in Farnworth
  • Nabi Solicitors, Rose Hill Works, Nelson Street, Bolton, Lancashire, BL3 2RW
  • Afg Law Limited, 20 Mawdsley Street, Bolton, Lancashire, BL1 1LE
  • Russell & Russell, Churchill House, Wood Street, Bolton, Lancashire, BL1 1EE
  • Mary Monson Solicitors Limited, 87 Chorley Road, Swinton, Manchester, Lancashire, M27 4AA
  • Winder Taylor Smith, Designa House,569 Chorley Old Road, Bolton, Lancashire, BL1 6BL

*Source acknowledgement: House price data produced by Land Registry as well data supplied by Lexsure Ltd.

© Crown copyright material is reproduced with the permission of Land Registry under delegated authority from the Controller of HMSO.