My partner and I are approaching an exchange on a property in Chorlton cum Hardy and my mum and dad have sent the exchange deposit to my conveyancer. I am now told that as the deposit has not come from me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to be an issue?
The lawyer is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
My aunt pointed out to me me that in purchasing a property in Chorlton cum Hardy there could be various restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Chorlton cum Hardy which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Chorlton cum Hardy should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Chorlton cum Hardy Conveyancing Quality Solicitors on the Aldermore conveyancing list of approved practices?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
When it comes to mortgage companies such as Co-operative, do Chorlton cum Hardy property lawyers face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Chorlton cum Hardy is the location of the property. What do you suggest?
Flying freeholds in Chorlton cum Hardy are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chorlton cum Hardy you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chorlton cum Hardy may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Chorlton cum Hardy. I am keen to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to find the landlord. For most situations an enquiry agent may be useful to conduct investigations and prepare an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Chorlton cum Hardy.
I acquired a leasehold flat in Chorlton cum Hardy, conveyancing having been completed in 2011. Can you work out an approximate cost of a lease extension? Similar flats in Chorlton cum Hardy with a long lease are worth £186,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2077
You have 53 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Two months into a sale of a flat in Chorlton cum Hardy. Conveyancing is fine but we are being charged an extortionate amount from the freeholder. To date we have paid £295.50 for a leasehold management information and then a further £134.40 for answers to questions raised by the buyers lawyer.
Your conveyancer will not have any say over the extent of the charges for this information but the average fee for the information for Chorlton cum Hardy leasehold property is £380. When it comes to Chorlton cum Hardy conveyancing deals it is customary for the owner to pay for these charges. The freeholder or their agents are not duty bound to answer such questions although many will be content to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no statute that mandates set fees for administrative tasks. Nor is there any set time limit by which they are required to issue the information.