Can you explain why leasehold purchase conveyancing in Hyde is more expensive?

The conveyancing costs for a leasehold property in Hyde is inevitably greater as compared to a freehold transaction. This is due to the supplemental investigations required in corresponding with the freeholder and managing agents to collate the information concerning whether the rent and service charges have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.

A friend advised me that in buying a property in Hyde there may be various restrictions as to what one can do in terms of external alterations to a property. Is this right?

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

Is it the case that all Hyde solicitors on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?

As a firm of solicitors, in order to be on the Principality conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.

I am currently in the process of buying my council flat in Hyde. I have a mortgage offer with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.

I own a semi-detached Victorian house in Hyde. Conveyancing practitioner represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Alliance & Leicester to clarify?

You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hyde and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing practitioner who completed the work.

How does conveyancing in Hyde differ for newly converted properties?

Most buyers of new build premises in Hyde contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Hyde typically purchase the land, 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 accustomed to new build conveyancing in Hyde or who has acted in the same development.

We are soon to complete on the purchase a house in Hyde but as a consequence of damage from the recent storms I have negotiated reparation from the owner of five thousand pounds taking the form of a deduction in the price. This was going to be dealt with as part of the conveyancing process but the bank will not agree to this. Should they have been informed?

Any conveyancer being on a mortgage company conveyancing panel is obliged to disclose to the mortgage company of any variations to the sale amount. If you were to refuse your conveyancing practitioner to notify the price change to your lender then they would need to disinstructing themselves from representing you and the lender.