Due to move into my new home in Manchester next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the bank expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not specific to conveyancing in Manchester.
My brother-in-law has suggested I instruct a conveyancing solicitor in Manchester. I I would like to check whether they are accepted on the Britannia approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing you should do is e-mail the lawyer and enquire if they can act for the lender. Alternatively please get in touch with Britannia who may be able to assist.
Please help - my lawyer says that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Manchester?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such insurances.
I am currently in the process of buying my council flat in Manchester. I have a mortgage agreed with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
My offer on a property in Manchester has been agreed to, but there is a chain. The sellers have placed an offer on a property, however it’s not yet agreed to, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Manchester. What do I do now? When should I get the mortgage application with Leeds Building Society going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then valuation, Manchester conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Leeds Building Society approved list. Concerning the next steps this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. During a rising market many buyers will apply for a home loan with Leeds Building Society and arrange for the valuation and only if it comes back ok would they request their conveyancer to press on with searches.
I used Action Conveyancing several years ago for my conveyancing in Manchester. Now, I need my documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Manchester of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Manchester differ for newly converted properties?
Most buyers of new build property in Manchester come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Manchester usually buy the real estate, 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 conveyancers 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 Manchester or who has acted in the same development.
Are there frequently found deficiencies that you witness in leases for Manchester properties?
There is nothing unique about leasehold conveyancing in Manchester. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
-
Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
Manchester Conveyancing for Leasehold Flats - Examples of Queries before buying
-
Where a Manchester lease has no more than eighty years it will impact the value of the property. Check with your lender that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this would cost. For most Manchesterlease extensions you will be required to have owned the residence for a couple of years in order to be legally able to extend the lease. The best form of lease arrangement is a share of the freehold. In this situation the tenants benefit from control and notwithstanding that a managing agent is usually employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. This question is useful as a) areas can result in problems for the building as the communal areas may begin to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to know about it