I am nearing an exchange on a property in Romiley and my mum and dad have transferred the exchange deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
The conveyancing practitioner is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are purchasing a property in Romiley. I might seem paranoid but how we can trust a solicitor? On completion day we have to put funds into their account. What is the protection we have from them run away with our money?
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.
I am assisting my aunt sell her property in Romiley. Does the conveyancing solicitor order an energy performance certificate or it is for the seller to coordinate?
After the abolition of Home Packs, energy assessments became a mandatory component of selling a house. An EPC must be commissioned before the property is placed on the market. It is not as aspect of the sale process that solicitors normally organise. Where you are instructing a Romiley conveyancing lawyer they might be able to arrange energy performance certificates given their relationships with long established Romiley assessors
I had a mortgage agreed in principle with Principality. Romiley conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality completed the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Just had an offer accepted on a new build apartment in Romiley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Romiley
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
Due to the input of my in-laws I had a survey completed on a property in Romiley in advance of appointing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend not grant a loan on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Romiley. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it best to appoint a Romiley conveyancing practitioner based in the vicinity that I am hoping to buy? We have a good friend who can deal with the conveyancing but they are based 400miles away.
The primary upside of using a high street Romiley conveyancing practice is that you can drop in to execute paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that should trump using an unfamiliar Romiley conveyancing lawyer solely due to them being based in the area.
I am a negotiator for a busy estate agent office in Romiley where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Romiley conveyancing firms. Could you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Romiley - Sample of Queries Prior to Purchasing
You will want to discover as much as you can regarding the managing agents as they can either make life much simpler or problematic. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the cleanliness of the common parts. Enquire of prospective neighbours whether they are happy with them. In conclusion, investigate as to the dates that the service fees are due to the managing agents and specifically what you get for your money. How long is the Lease? Who are the managing agents?