My wife and I have lately purchased a property in Timperley. We have noticed several problems with the house which we believe were missed in the conveyancing searches. Do we have any recourse? What searches should? have been conducted for conveyancing in Timperley?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Timperley. Conveyancing searches and due diligence initiated during the buying process are supposed to help avoid problems. As part of the process, a seller fills in a document referred to as a Seller’s Property Information Form. If the information is incorrect, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Timperley.
My fiance and I decided to purchase a purpose built apartment in Timperley with a mortgage from Clydesdale.We use our Timperley conveyancing solicitor but Clydesdale advised that her practice is not listed on their approved list of member firms. We have to appoint a Clydesdale panel lawyer or keep our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Clydesdale use our lawyer?
Unfortunately,no. The mortgage issued to you contains various provisions, one of which will be that lawyers will be on the Clydesdale approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Clydesdale
I am helping my mother sell her house in Timperley. Will the solicitor order an energy performance certificate or should I organise this?
After the abolition of Home Packs, energy assessments remained a mandatory element of selling a property. An energy assessment should be to hand before the property is advertised. This is not something that conveyancers normally arrange. Where you are instructing a Timperley conveyancing lawyer they might be able to arrange energy performance certificates due to their contacts with long established local energy assessors
When it comes to lenders such as Skipton, do Timperley solicitors have to pay a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Lloyds have agreed my mortgage in principle, my bid on a apartment in Timperley has been accepted, what happens next?
Your estate agent will wish to be advised as to your property lawyer's details (make sure the property lawyers are on the bank’s panel). Contact Lloyds or the financial adviser and finish off any outstanding paperwork. Lloyds will appoint a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Lloyds will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Timperley.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Timperley is where the house is located. Can you offer any opinion?
Flying freeholds in Timperley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Timperley you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Timperley may determine 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 residence.
I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Timperley. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Timperley ?
Most houses in Timperley are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Timperley so you should seriously consider looking for a Timperley conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.
I invested in buying a 2 bed flat in Timperley, conveyancing having been completed 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Timperley with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2073
With just 52 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
I am soon to complete buying a house in Timperley but as a result of wreckage from the recent storms I have negotiated reparation from the seller of £2k in the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process but my lender will not permit this. Should they have been notified?
Your property lawyer being on the lender conveyancing panel is obliged to inform the bank of any changes to the sale price. If you did not allow your conveyancing practitioner to report the price change to your bank then they would have to disinstructing themselves from acting for you and the bank.