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

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Recently asked questions about conveyancing in Gatley

Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a ground floor flat in Gatley. Do I receive the keys to the house on the completion date from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Gatley?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be invited to pick up the keys from the property Agents and start moving into the property. Usually this occurs between 1 and 3pm.

My father advised me that in buying a property in Gatley there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?

There are anumerous of properties in Gatley which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Gatley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

We have agreed to purchase a house in Gatley. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?

As you are obtaining a mortgage with Barclays your lawyer must follow the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Barclays where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Gatley.

I acquired my apartment on 12 August and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Gatley expressed confidence that it would be registered in less than a month. Are transfers in Gatley particularly slow to register?

There is nothing unique when it comes to conveyancing in Gatley registration formalities. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether it is in order and whether the Land registry communicate with any interested persons or bodies. As of today in the region of three quarters of such applications are completed within 12 days but some can be subject to longer delays. Registration is effected after the purchaser is living at the premises thus an expedited registration is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor can contact the land registry and explain the circumstances.

I'm purchasing a new build house in Gatley benefiting from help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not to tell my solicitor about this extras as it would affect my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

How can the Landlord & Tenant Act 1954 impact my commercial premises in Gatley and how can your lawyers assist?

The 1954 Act provides security of tenure to business leaseholders, giving them the right to apply to court for a new lease and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Gatley

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

  • Much of the delay in leasehold conveyancing in Gatley can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • Some Gatley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 purchasers or their solicitors. The majority of freeholders or Management Companies in Gatley charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought 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 frequent reason for frustration in leasehold conveyancing in Gatley. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a new share certificate is often a lengthy formality and slows down many a Gatley home move. If a new share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later. You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

Gatley Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

    Be sure to enquire if there is anything that is prohibited in the lease. For example some leases prohibit pets being permitted in certain buildings in Gatley. If you love the propertyin Gatley yet your cat can’t move with you then you will be faced difficult compromise. How is the lease structured?

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