My husband and I are buying a brand new duplex in Altrincham and my solicitor is advising me that she has to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to sign contracts and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the first thing I need to know regarding purchase conveyancing in Altrincham?
Not many law firms or advisers will tell you this but conveyancing in Altrincham or throughout Greater Manchester is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of room for friction between you and other parties involved in the home moving process. E.g., the seller, estate agent and on occasion the mortgage company. Choosing a solicitor for your conveyancing in Altrincham an important selection as your conveyancer is your adviser, and is the ONLY party in the process whose responsibility is to act in your best interests and to keep you safe.
On occasion a potential adversary may attempt to sway you that you should follow their advice. For example, the selling agent may claim to be assisting by suggesting your lawyer is wrong. Or your mortgage broker may advise you to do take action that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Altrincham I like with open areas and transport links in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Altrincham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
My brother has urged me to use his conveyancers in Altrincham. Should I find my own conveyancer?
No doubt it’s preferable to select a conveyancing practitioner is to have referrals from friends or family who have previously instructed the conveyancer you're contemplating using.
My wife and I may need to let out our Altrincham basement flat temporarily due to a career opportunity. We instructed a Altrincham conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Even though your last Altrincham conveyancing solicitor is no longer around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you must seek consent via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without prior permission. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I own a ground floor flat in Altrincham, conveyancing was carried out in 2008. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Altrincham with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2084
With 59 years left to run we estimate the price of your lease extension to span between £20,900 and £24,200 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.