We are planning to purchase a 3 bedroom flat in Rossendale with a mortgage. We have a Rossendale lawyer, however the bank says he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Rossendale solicitor as well as pay for one of their panel firms to represent them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Rossendale conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I are purchasing a newly built duplex in Rossendale and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. I am under pressure to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can I use your services to recommend a Conveyancing solicitor in Rossendale even where I’m not buying or selling a house, for instance if I want to acquire an office in Rossendale with a loan from Halifax?
Our comparison service is mainly used to select residential conveyancing solicitors in Rossendale but we have recorded at the bottom of this page a selection of Rossendale commercial conveyancing firms. You will need to speak with the firm directly to see if they are also authorised to represent Halifax
Should commercial conveyancing searches disclose planned roadworks that could impact a commercial property in Rossendale?
Many commercial conveyancing solicitors in Rossendale will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Rossendale. The search result provides 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 Rossendale.
For every commercial conveyancing transaction in Rossendale it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Rossendale commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Rossendale.
It has been four months following my purchase conveyancing in Rossendale took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I work for a long established estate agent office in Rossendale where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Rossendale conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
I invested in buying a split level flat in Rossendale, conveyancing was carried out 10 years ago. How much will my lease extension cost? Corresponding properties in Rossendale with an extended lease are worth £192,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2080
You have 54 years unexpired we estimate the premium for your lease extension to be between £32,300 and £37,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.