I am not in a position to travel far from Stalybridge. I would like to know the logic why all Stalybridge conveyancing practitioners are not on all mortgage company panels?
Lenders highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies purging a number of firms off their books of approved conveyancers .
I purchased a freehold property in Stalybridge yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Stalybridge and has limited impact for conveyancing in Stalybridge 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My Solicitor in Stalybridge is not on the Alliance & Leicester Approved Panel. Can I still retain my prefered solicitor notwithstanding that they are excluded from the Alliance & Leicester approved list?
Your options are as follows:
- Carry on with your preferred Stalybridge solicitors but Alliance & Leicester will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges and cause frustration.
- Choose an alternative solicitor to to deal with the conveyancing, not forgetting to check they are Alliance & Leicester approved.
- Try to convince your Alliance & Leicester solicitor to attempt to join the Alliance & Leicester panel
I am helping my aunt sell her flat in Stalybridge. Does the solicitor commission the EPC or it is for the seller to see to?
After the demise of HIPs, energy performance certificates was retained a required component of selling a property. An EPC must be commissioned prior to the property being advertised. It is not a task that law firms ordinarily organise. If you are using a Stalybridge conveyancing practitioner they might help arrange EPC’s due to their contacts with long established local accredited person
We have a mortgage agreed in principle with UBS. Stalybridge conveyancing practitioners have been chosen. What is the average time that one could expect to receive a mortgage offer from UBS?
Some lenders take longer than others. Have UBS done the valuation? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Stalybridge solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Stalybridge surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am buying a new build flat in Stalybridge. Conveyancing is necessary evil 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 is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Stalybridge
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There must be mutual enforceability of lessee’s covenants. 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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am hoping to sign contracts shortly on a basement flat in Stalybridge. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Stalybridge should include some of the following:
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Setting out your legal entitlements in respect of the communal areas in the block.For instance, does the lease permit a right of way over an accessway or hallways? What the implications are if you breach a clause of your lease? You must be informed what is to be regarded as a Nuisance as far as the lease is concerned You should be sent a copy of the lease if lease provides for a sinking account for major repairs?
I bought a leasehold flat in Stalybridge, conveyancing having been completed in 2007. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Stalybridge with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2086
With 61 years remaining on your lease the likely cost is going to range between £19,000 and £22,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.