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Find a Disley Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Disley? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Disley home move at risk of delay or failure.

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Recently asked questions about conveyancing in Disley

Our lawyer has identified a defect with the lease for the apartment we are purchasing in Disley. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the mortgage company ?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

How does conveyancing in Disley differ for newly converted properties?

Most buyers of new build property in Disley contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Disley typically 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 Disley or who has acted in the same development.

I need to appoint a conveyancing solicitor for freehold conveyancing in Disley. I have stumble across a web site which seems to have the perfect offering If there is a chance to get all this stuff done via phone that would be ideal. Should I be concerned? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I own a leasehold flat in Disley. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Disley who acted for me is not around. What should I do?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Disley conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I purchased a leasehold flat in Disley, conveyancing formalities finalised in 2001. Can you work out an approximate cost of a lease extension? Similar flats in Disley with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2077

With 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues 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 without first seeking the advice of a professional.

I dont have enough spare funds to pay a 10% deposit on my apartment purchase in Disley , but I am keen exchange. Do I have options?

One option is to try and agree a lesser deposit. Many vendors will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment

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