My financial adviser has asked me for my Altrincham lawyer’ panel member for the HSBC conveyancing panel. Can you suggest how I obtain this. I have called my local Altrincham office but they have not got back to me yet.
You are best placed to get this information from your Altrincham conveyancing practitioner . Most Altrincham conveyancing practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
How does conveyancing in Altrincham differ for new build properties?
Most buyers of new build residence in Altrincham approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Altrincham tend to purchase 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 conveyancers 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 Altrincham or who has acted in the same development.
I'm converting the mortgage on my current home to a buy to let loan with Accord Mortgages Ltd and intend to use the remaining equity towards a second house. The neighborhood we are interested in is Altrincham. Will your conveyancers be able to act for both sets of banks and tie in the transactions?
Make use of our search tool on this page to ensure that the lawyers are approved by both mortgage companies. Assuming that they are your lawyer will be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and make clear your desired outcome and needs.
I am tempted by the attractive purchase price for a two maisonettes in Altrincham both have approximately 50 years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Altrincham is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Altrincham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Altrincham Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
How many of the leaseholders are in arrears for their service charge payments? Is there a share of the freehold?
Are you able to set out the extent of conveyancing handled by Altrincham conveyancing solicitors?
For the most part Altrincham conveyancing organisations tend to conduct various assistance to residential and agricultural land proprietors, sellers, purchasers, freeholders and leaseholders such as:
Standard residential sale conveyancing in Altrincham or elsewhere in the country
Home purchase conveyancing in Altrincham and nationwide
Property division, resulting from divorce or separation Leasehold enfranchisement (advice to both freeholders and tenants) Holiday and buy-to-let purchases Declarations of Trust for family and other joint ownership