We are buying a new build duplex in Ashton In Makerfield and my solicitor is informing me that she is duty bound to the mortgage company to reveal incentives from the developer. I am under pressure to exchange and I don't want to delay the conveyancing. Is my lawyer right?

You should not exchange unless you have been advised to do so by your property lawyer. 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.

My wife and I have recently appointed a conveyancing solicitor in Ashton In Makerfield. I need to find out if they are accepted on the Coventry Building Society approved list of lawyers. Can you or the lender confirm if they are on the panel?

You should call the lawyer and ask them if they are on the lender panel. Alternatively please get in touch with Coventry Building Society who may be able to assist.

Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Ashton In Makerfield I like with a park and transport links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Ashton In Makerfield in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.

I am a sole trader planning to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering no-move-no costs for non-domestic conveyancing in Ashton In Makerfield for below 2k?

We can recommend firms who have an in-depth of experience of commercial conveyancing in Ashton In Makerfield, including the sale and acquisition of businesses as well as simply premises. Whether you are intending to purchase or dispose of a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right lawyer. Regarding the fees these will vary based on the structure and nuances of the deal. Let us have your contact information or email us so that we may provide you with comprehensive commercial conveyancing quote.

Can you provide any top tips for leasehold conveyancing in Ashton In Makerfield from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Ashton In Makerfield can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers’ solicitors.
You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. Many freeholders or Management Companies in Ashton In Makerfield levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Ashton In Makerfield. A minority of Ashton In Makerfield leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.

Leasehold Conveyancing in Ashton In Makerfield - A selection of Questions you should consider Prior to Purchasing

What is the yearly maintenance fee and ground rent? How many of the leaseholders are in arrears for their service charge payments? Be sure to enquire if the the lease includes any onerous restrictions in the lease. By way of example it is very common in Ashton In Makerfield leases that pets are not allowed in certain buildings in Ashton In Makerfield. If you love the flatin Ashton In Makerfield yet your cat can’t move with you then you will be presented with a hard compromise.