Finally the sale completed on my house in Levenshulme last February yet the purchaser is SMS messaging every few hours to moan that her conveyancer is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
After completion of your sale your conveyancer should deliver the transfer documentation and all of the paperwork to the buyer’s conveyancer. Where relevant, your lawyer should also send confirmation that the mortgage has been repaid to the purchasers lawyers. There are no post completion tasks peculiar conveyancing in Levenshulme.
I currently have a mortgage with Co-operative for my property in Levenshulme. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
Co-operative must be informed of your intention before renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel solicitor.
Completion of my remortgage has taken place for my property in Levenshulme. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
All banks and building societies 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. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
UBS have agreed my home loan in principle, my bid on a property in Levenshulme has been accepted, what happens next?
Your property agent will wish to be informed of your conveyancing practitioner's details (make sure the solicitors are on the lender’s approved list). Call up UBS or your broker and finish off any relevant paperwork. UBS will instruct a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. UBS will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Levenshulme.
Just had an offer accepted on a new build flat in Levenshulme. 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 conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Levenshulme
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. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey done on a property in Levenshulme ahead of appointing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some lenders tend not give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Levenshulme. Conveyancing may be slightly more expensive based on your lender's requirements.
We're FTB’s - agreed a price, but the estate agent told us that the vendor will only move forward if we instruct the agent's recommended conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Levenshulme
We suspect that the owner is not behind this requirement. If they require ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your own,trusted Levenshulme conveyancing firm - not the ones that will earn the negotiator at the agency a introducer fee or meet his conveyancing thresholds demanded by senior management.
Are there common problems that you see in leases for Levenshulme properties?
Leasehold conveyancing in Levenshulme is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the premises A duty to insure the building
You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Aldermore 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, forcing the purchaser to pull out.
I purchased a 1st floor flat in Levenshulme, conveyancing having been completed in 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Levenshulme with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2081
With 59 years left to run the likely cost is going to span between £20,900 and £24,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.