I sincerely hope you can assist me. My Marple solicitor is informing me me that he has toconduct Marple conveyancing searches stemming from the fact thatthe firm are on the HSBCsolicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Marple conveyancing searches.
I am the registered owner of a freehold house in Marple yet charged rent, why is this and what is this?
It’s unusual for properties in Marple and has limited impact for conveyancing in Marple but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We're in Marple, First timers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in Marple differ for newly converted properties?
Most buyers of new build property in Marple contact 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 Marple usually purchase the land, 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 Marple or who has acted in the same development.
We're FTB’s - agreed a price, but the property agent informed us that the vendor will only proceed if we instruct their preferred solicitors as they want an ‘expedited deal’. We would rather use a local conveyancer accustomed to conveyancing in Marple
We suspect that the owner is not behind this requirement. Should the seller desire ‘a quick sale', alienating a serious buyer is counter productive. Contact the owners directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you will continue to use your own,trusted Marple conveyancing firm - not the ones that will provide their negotiator at the agency a commission or meet his conveyancing targets demanded by corporate headquarters.
What are the frequently found problems that you come across in leases for Marple properties?
There is nothing unique about leasehold conveyancing in Marple. All leases are drafted differently and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
Maintenance charge proportions which don’t add up to the correct percentage
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Skipton Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Marple Leasehold Conveyancing - Examples of Queries Prior to buying
For most Marple leaseholds the outlay for major works are not included within service charges, although there some managing agents in Marple ask tenants to contribute towards a sinking fund and this is used to offset against major works. Are any of leasehold owners in dispute over their service charge liability? Is the freehold owned collectively by the tenants?