Me and my fiance are hoping to acquire a 2 bedroom flat in Wythenshawe with a mortgage. We like our Wythenshawe conveyancer, but the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel firms or continue with our Wythenshawe lawyer and pay for one of their panel firms to represent them. This seems very unfair; can we not require that the mortgage company use our Wythenshawe solicitor ?
No, not really. 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 Wythenshawe conveyancing lawyer to apply to be on the conveyancing panel.
What is the first thing I need to know regarding purchase conveyancing in Wythenshawe?
Not many law firms shout this from the rooftops but conveyancing in Wythenshawe and elsewhere in Greater Manchester is an adversarial process. Put another way, when it comes to conveyancing there exists an abundance of room for friction between you and others involved in the legal transfer of property. For instance, the vendor, estate agent and sometimes a lender. Choosing a law firm for your conveyancing in Wythenshawe is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to protect your legal interests and to keep you safe.
There is a distinct emergence in the "blame" culture- someone has to be at fault for the process taking so long. We recommend that you must always trust your conveyancer ahead of the other parties in the conveyancing process.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to instruct a specialised conveyancing solicitor in Wythenshawe?
Do check but the the likelihood is that give you one of their panel lawyers where you take up the "fee-free" offer. Call the mortgage company and ask if they offer you a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Wythenshawe.
How does conveyancing in Wythenshawe differ for newly converted properties?
Most buyers of new build residence in Wythenshawe contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in Wythenshawe usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Wythenshawe or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Wythenshawe is the location of the property. Is there any advice you can give?
Flying freeholds in Wythenshawe are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wythenshawe you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wythenshawe 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 premises.
Do you have any advice for leasehold conveyancing in Wythenshawe with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Wythenshawe can be reduced if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers. Many freeholders or managing agents in Wythenshawe levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Wythenshawe. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Wythenshawe state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you dont have the paperwork to hand do not communicate with the landlord without checking with your lawyer first. If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing. You believe that you know the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Wythenshawe Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
Plenty Wythenshawe leasehold properties will have a service charge for the upkeep of the building set by the freeholder. If you acquire the property you will have to pay this charge, usually quarterly accross the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay yearly, this is usually not a significant sum, say about £25-£75 but you should to enquire it because occasionally it can be many hundreds of pounds. Is there a share of the freehold?