I am in the process of selling my flat in Greater Manchester and the estate agent has just e-mailed to say that the buyers are switching solicitor. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. On what basis would a leading lender only work with certain law firms rather the firm that they want to appoint for their conveyancing in Greater Manchester ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.
Can the conveyancing practitioners highlighted through your ’find a lawyer’ app carry out right to buy conveyancing in Greater Manchester?
We have identified numerous conveyancing firms who can handle right to buy conveyancing matters Do call us to obtain a costs illustration.
I am looking for a flat up to £245,000 and identified one close by in Greater Manchester I like with open areas and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Greater Manchester for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I want to rent out my leasehold apartment in Greater Manchester. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A small minority of properties in Greater Manchester do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Leasehold Conveyancing in Greater Manchester - Sample of Queries before buying
What is the service charge and ground rent on the property? The answer will be useful as a) areas can cause problems for the building as the communal areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have complete disclosure The majority of Greater Manchester leasehold flats will incur a service charge for maintenance of the building invoiced on behalf of the landlord. If you purchase the flat you will have to meet this liability, usually in instalments accross the year. This can be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent to be met annual, this is usually not a large sum, say approximately £25-£75 but you need to check it because sometimes it could be prohibitively expensive.
What type of premises does your Greater Manchester conveyancing quotes relate to?
Our conveyancing quotes are only relevant to standard residential property in England & Wales. If you have any different requirements such as industrial or agricultural property or commercial conveyancing in Greater Manchester please contact us to discuss your requirements .