My grandson is purchasing a new build apartment in Whalley Range with a home loan from UBS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is the first thing I need to know about purchase conveyancing in Whalley Range?
You may not hear this from too many lawyers but conveyancing in Whalley Range and elsewhere in Manchester is an adversarial experience. In other words, when it comes to conveyancing there exists lots of room for friction between you and other parties involved in the legal transfer of property. For example, the vendor, estate agent and on occasion the mortgage company. Appointing a law firm for your conveyancing in Whalley Range an important selection as your conveyancer is your adviser, and is the ONE party in the process whose role it is to look after your best interests and to protect you.
Sometimes a potential adversary will try and convince you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by claiming that your lawyer is dragging his heels. Or your financial adviser may tell you to do take action that is against your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Are all Whalley Range Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved practices?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I am currently in the process of buying my council flat in Whalley Range. I have a mortgage offer with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I currently have a mortgage with Leeds Building Society for my property in Whalley Range. Conveyancing has been completed months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval prior to letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel firm.
Me and my brother have a renovated Edwardian house in Whalley Range. Conveyancing practitioner represented me and Skipton Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Whalley Range and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the purchase.
Taking into account that I am about to part with hundreds of thousands of pounds on a two bedroom apartment in Whalley Range I would like to have a conversation with the lawyer concerning thehouse move in advance of appointing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be doing your conveyancing in Whalley Range.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in Whalley Range should be the figure that you end up paying.
I am in need of some leasehold conveyancing in Whalley Range. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and most are in Whalley Range - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a 1st floor flat in Whalley Range, conveyancing having been completed 5 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Whalley Range with over 90 years remaining are worth £190,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2086
With only 62 years remaining on your lease the likely cost is going to be between £17,100 and £19,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues 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 placing reliance on this information before getting professional advice.