Me and my fiance are purchasing a 3 bedroom apartment in Ashton under Lyne with a mortgage. We like our Ashton under Lyne lawyer, but the bank says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Ashton under Lyne conveyancing practitioner as well as pay for one of their panel firms to represent them. We regard this is inequitable; can we not demand that the bank use our Ashton under Lyne solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Ashton under Lyne conveyancing solicitor to apply to be on the conveyancing panel.
I am buying a terraced house in Ashton under Lyne. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Ashton under Lyne you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Ashton under Lyne.
The estate agent has sent us the confirmation of our purchase of a new build flat in Ashton under Lyne. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Ashton under Lyne
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are surveyor prepared.
Due to the input of my in-laws I had a survey completed on a property in Ashton under Lyne before appointing lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks will not grant a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ashton under Lyne. Conveyancing will be smoother if you use a solicitor in Ashton under Lyne especially if they are accustomed to such properties in Ashton under Lyne.
I am employed by a long established estate agency in Ashton under Lyne where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Ashton under Lyne conveyancing firms. Please can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Ashton under Lyne Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
Plenty Ashton under Lyne leasehold flats will incur a service charge for maintenance of the block set by the landlord. Where you purchase the property you will have to meet this charge, normally periodically during the year. This may vary from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent to be met annual, ordinarily this is not a exorbitant sum, say around £25-£75 but you should to check it because occasionally it can be many hundreds of pounds. Who takes responsibility for maintaining and repairing the block?