I am about to complete on the purchase of a house in Pendlebury but as a consequence of damage from a small fire at the property I have was able negotiate recompense from the current proprietors in the sum of £3k in the form of a reduction in the price. This was going to be dealt with as part of amending the contract but Lloyds are not allowing this. Should they have been involved?
The conveyancer being on a Lloyds approved list is obliged to advise Lloyds of any changes to the purchase price. If you were to refuse your property lawyer to disclose the price change to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new property lawyer for your conveyancing in Pendlebury.
What is the first thing I need to know concerning purchase conveyancing in Pendlebury?
You may not hear this from too many lawyers but conveyancing in Pendlebury or throughout England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is lots of opportunity for conflict between you and others involved in the transaction. For instance, the vendor, selling agent and on occasion your bank. Appointing a solicitor for your conveyancing in Pendlebury should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the legal process whose interest is to look after your legal interests and to keep you safe.
Every so often a third party with a vested interest may attempt to persuade you that you should follow their advice. As an example, the selling agent may claim to be helping by suggesting your solicitor is dragging his heels. Or your mortgage broker may tell you to do take action that is against your conveyancers advice. You should always trust your lawyer above all other parties in the home moving process.
I have a terraced Georgian property in Pendlebury. Conveyancing solicitor represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching property. Is it worth asking Leeds Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pendlebury and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing solicitor who carried out the work.
Due to the guidance of my in-laws I had a survey completed on a property in Pendlebury in advance of appointing lawyers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Pendlebury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Pendlebury to see if the conveyancing costs will increase in light of this.
My step-father has recommend that I instruct his conveyancing solicitors in Pendlebury. Should I use them?
There are no two ways about it the best way to select a conveyancing practitioner is to have recommendations from friends or family who have actually used the conveyancer that you are contemplating using.
What advice can you give us when it comes to finding a Pendlebury conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Pendlebury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Pendlebury conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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What are the legal fees for lease extension conveyancing? If the firm is not ALEP accredited then what is the reason?
I inherited a 1st floor flat in Pendlebury, conveyancing having been completed June 2000. How much will my lease extension cost? Comparable flats in Pendlebury with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease comes to an end on 21st October 2082
With just 56 years remaining on your lease we estimate the price of your lease extension to be between £29,500 and £34,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.