We are acquiring a newly built apartment in Tyldesley and my solicitor is advising me that she is duty bound to the lender to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and my preference is not to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am considering applying for a Aldermore mortgage for purchase of a new build (under development) in Tyldesley with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We had appointed conveyancing lawyers locally in Tyldesley on the Bank of Ireland solicitor approved list. They have just billed me an additional charge for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee set by Bank of Ireland?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The fee is not set by Bank of Ireland but by your Tyldesley solicitor. Some firms on the Bank of Ireland panel will quote ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
My fiancee and I are at the point of viewing houses in Tyldesley and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this point? I intend to finance via a home loan with Coventry BS.
It would be wise to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are getting a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nottingham are being difficult. The Tyldesley solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Are there restrictive covenants that are commonly identified during conveyancing in Tyldesley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Tyldesley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What does commercial conveyancing in Tyldesley cover?
Tyldesley conveyancing for business premises incorporates a wide array of services, offered by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Can you offer any advice when it comes to finding a Tyldesley conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Tyldesley conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Tyldesley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
If the firm is not ALEP accredited then why not? Can they put you in touch with clients in Tyldesley who can give a testimonial?
I invested in buying a basement flat in Tyldesley, conveyancing formalities finalised in 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Tyldesley with over 90 years remaining are worth £170,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2101
With 78 years left to run the likely cost is going to span between £7,600 and £8,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.