Me and my partner are purchasing a property in Radcliffe. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in Radcliffe. One unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Virgin Money your lawyer must follow the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook contains minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Virgin Money where a lease fails to comply with these requirements. The conditions relate to the installation of panels on properties countrywide and is not isolated to Radcliffe.
I have paid off my mortgage with Principality. I assume I don't need a Radcliffe conveyancer on the Principality panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial site in Radcliffe?
Many commercial conveyancing solicitors in Radcliffe will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Radcliffe. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Radcliffe.
For every commercial conveyancing transaction in Radcliffe it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Radcliffe commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Radcliffe.
How does conveyancing in Radcliffe differ for newly converted properties?
Most buyers of new build or newly converted property in Radcliffe contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Radcliffe usually buy 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 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 accustomed to new build conveyancing in Radcliffe or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Radcliffe is where the house is located. Can you offer any assistance?
Flying freeholds in Radcliffe are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Radcliffe you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Radcliffe may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I better off to instruct a Radcliffe conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can carry out the legal work but her office is 400miles away.
The primary upside of using a local Radcliffe conveyancing firm is that you can drop in to execute documents, deliver your ID and apply pressure on them if necessary. Having local Radcliffe know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were content that should outweigh using an unfamiliar Radcliffe conveyancing lawyer solely due to them being Radcliffe based.
I want to let out my leasehold apartment in Radcliffe. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Radcliffe do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I acquired a ground floor flat in Radcliffe, conveyancing was carried out in 1995. Can you work out an approximate cost of a lease extension? Similar flats in Radcliffe with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2076
With 55 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as costs.
The figure 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 comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.