We are hoping to purchase a 3 bedroom flat in Gatley with a mortgage. We have a Gatley solicitor, however the lender says she’s not on their "panel". It appears that we have no choice but to instruct one of the mortgage company panel firms or continue with our Gatley lawyer and pay for one of their panel ones to represent them. This feels very unfair; can we not insist that the lender use our Gatley property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Gatley conveyancing lawyer to apply to be on the conveyancing panel.
Our Gatley solicitor has spotted a discrepancy when comparing the surveyor’s assumptions in the valuation survey and what is in the conveyancing documents. My lawyer has advised that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s approach legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications 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 you.
We are purchasing a flat and require a conveyancing solicitor in Gatley who is on the Leeds Building Society approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Gatley.
What is the difference between a licensed conveyancer and conveyancing solicitor in Gatley
There are many registered licenced Conveyancers in Gatley and Solicitor partnerships in Gatley who can help with your conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. Both can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am buying a victorian detached house in Gatley. The intention is to convert the garage to an office at the property.Will the conveyancing process involve checks to see if these works were previously refused?
Your solicitor should review the registered title as conveyancing in Gatley can occasionally identify restrictions in the title documents which restrict certain changes or need the permission of a 3rd party. Certain extensions call for local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.
Last month we had a mortgage agreed in principle with Virgin Money. Gatley conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money done the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My step-father has recommend that I use his lawyers for conveyancing in Gatley. Should I find my own solicitor?
No doubt the best way to find a conveyancing practitioner is to get guidance from friends or family who have actually previously instructed the solicitor that you are are thinking of instructing.
Last May I purchased a leasehold flat in Gatley. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 own a ground floor flat in Gatley, conveyancing having been completed February 2003. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Gatley with an extended lease are worth £265,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2100
With 75 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.