Unfortunately I am unable to travel far from Gorton. I would like to know the reason why all Gorton solicitors are not on all bank panels?
As unjust as it may appear for lenders to restrict who can act for them, from the public’s or solicitor’s perspective, the other side of the coin is that lenders are becoming ever more anxious and consider it vital to protect them against mortgage fraud. As a consequence of this concern mortgage companies have restricted their conveyancing panel to a size that they are happy to control.
I am looking to buy a property and require a conveyancing solicitor in Gorton who is on the Alliance & Leicester solicitor. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Gorton. We dont recommend any particular firm.
My aunt pointed out to me me that in purchasing a property in Gorton there could be a number of restrictions preventing external alterations to a property. Is this right?
We are aware of anumerous of properties in Gorton which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Gorton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We were going to get a DIP from Co-operative this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Gorton solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Gorton solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Gorton building society branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Gorton conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your solicitor has to follow the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Gorton I like with open areas and transport links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Gorton in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
My wife and I purchased a leasehold house in Gorton. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Gorton who acted for me is not around. Any advice?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Gorton conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a 2 bed flat in Gorton, conveyancing having been completed 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Gorton with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2085
With just 66 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.