In reviewing consumer advice sites for a conveyancing lawyer in Greater Manchester, many post that I should use a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in the legal transfer of properties, trusted by some of the UK's biggest lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Society for Licensed Conveyancers. Greater Manchester is one of the many areas in England and Wales where there are Accredited solicitors.
Is it the case that all Greater Manchester solicitor firms on the Bank of Ireland conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be regulated by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.
I'm in the throws of viewing houses in Greater Manchester and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Clydesdale.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are taking out a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
It is not clear whether my lender requires a lease extension. I have telephoned my Greater Manchester building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Greater Manchester conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the solicitor is on the bank approved list, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly identified during conveyancing in Greater Manchester?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Greater Manchester. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a ground for flat up to £235,500 and found one close by in Greater Manchester I like with open areas and railway links nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in Greater Manchester suitable, 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 may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
In relation to leasehold conveyancing in Greater Manchester what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Greater Manchester. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
Service charge per centages that don't add up correctly leaving a shortfall Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
Greater Manchester Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
Does this lease have more than 80 years unexpired? Who manages the block? Are there any major works in the planning that will increase the service costs?