I am buying a right to buy a flat in Great Harwood. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Great Harwood you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Great Harwood.
I am buying a 4 bedroom semi-detached house in Great Harwood. The intention is to an extension at the rear at the house.Will legal investigations on the property involve checks to ascertain if these works are allowed?
Your property lawyer will check the registered title as conveyancing in Great Harwood will on occasion reveal restrictions in the title deeds which prevent certain alterations or necessitated the consent of a 3rd party. Many extensions call for local authority planning consent and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
Last month we had a mortgage agreed in principle with Principality. Great Harwood conveyancing practitioners are appointed. How long does it take for Principality to send the offer to the conveyancer?
Some lenders take longer than others. Have Principality completed the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my remortgage has taken place for my property in Great Harwood. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Me and my brother have a 4 bedroom Edwardian house in Great Harwood. Conveyancing solicitor acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Harwood and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who conducted the purchase.
How does conveyancing in Great Harwood differ for new build properties?
Most buyers of new build property in Great Harwood approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Great Harwood usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Great Harwood or who has acted in the same development.
I am a negotiator for a busy estate agency in Great Harwood where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Great Harwood conveyancing solicitors. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Great Harwood Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
Is the freehold reversion owned jointly by the tenants? It is important to be aware whether window replacement or some other major work is due in the near future that will be shared amongst the leasehold owners and will materially increase the the maintenance fees or result in a specific invoice. On the whole the cost for major works are not included within service charges, albeit that a few managing agents in Great Harwood obliged tenants to contribute towards a reserve fund and this is used to offset against major works.
Our lawyer in Great Harwood has identified a a legal deficiency with the lease for the property we are purchasing in Great Harwood. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Great Harwood conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the mortgage company conveyancing panel who has to balance acting for you and the lender