We were about to instruct a conveyancing solicitor in Cheadle recommended on your site but have come across some other fee calculations via the web appear cheaper – how come?

You can find lots of conveyancers marketing what appear to be very low prices. We would encourage you to give due consideration as to how important this transaction is to you that want to be penny wise pound foolish over the quality of the conveyancing. Some embed fees deep into the terms of engagement. The law firms that we list for conveyancing in Cheadle neverdo this.

What does my ID and proof of funds have anything to do with my conveyancing in Cheadle? What am I being asked for?

To satisfy the Money Laundering Regulations any Cheadle conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account showing your correct address.

Under Money Laundering Regulations, conveyancing solicitors are duty bound to investigate not only the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your property lawyers will have an obligation to notify the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.

How does conveyancing in Cheadle differ for newly converted properties?

Most buyers of new build or newly converted property in Cheadle come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because developers in Cheadle tend to acquire the real estate, 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 property lawyers 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 Cheadle or who has acted in the same development.

Can you provide any top tips for leasehold conveyancing in Cheadle from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Cheadle can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers’ lawyers.
You believe that you know the number of years remaining on your lease but it would be wise to double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Cheadle leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. If you dont have the paperwork to hand you should not communicate with the landlord without checking with your conveyancer before hand.

Cheadle Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

How many years are left on the lease? The prefered form of lease arrangement is a share of the freehold. In this arrangement the leaseholders have control and although a managing agent is frequently retained if it is larger than a house conversion, the managing agent retained by the leaseholders. Can you tell me if there are any major works on the horizon that could add a premium to the maintenance charges?

My 20yr old son is about to join the property ladder, he had his mortgage in principle. After the seller agreed the offer on the flat we called the building society to issue the formal offer. We were shocked to discover that mortgage companies do not accept all conveyancer, they must be on their panel, is this right?

Lenders tend to restrict either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Cheadle lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.