I had intended to instruct a property lawyer in Oldham for our home move. Our broker informed us that our mortgage company Bank of Ireland won't deal with them. Surely this is unfair competition?
A decade ago most lenders had an appetite for risk which was higher than today. Almost all Oldham conveyancing firms would have been on most bank panels. The FSA in 2010 completed a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms concerning their operations and their employees and establishing certain criteria such a completing on a minimum amount of transactions. Many Oldham conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Oldham is one of the hundreds of areas where the lawyers we list are on the panel for Bank of Ireland.
We are intent on selling our property in Oldham and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local lawyer would know this is not the case. For the life of me I don't know why the buyers are using a web based conveyancing outfit rather than a conveyancing solicitor in Oldham. Having lived in Oldham for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Oldham differ for newly converted properties?
Most buyers of new build premises in Oldham contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Oldham tend to buy the real estate, 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 property lawyers 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 Oldham or who has acted in the same development.
Is there anything unique about your site and other online quote calculators when it comes to conveyancing in Oldham?
At this site secure an accurate costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Oldham. Unlike many estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. Many agents and online brokers 'recommend' solicitors paying the highest commission, as opposed to the best value conveyancing in Oldham
Last September I purchased a leasehold property in Oldham. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a basement flat in Oldham, conveyancing having been completed in 2007. Can you work out an approximate cost of a lease extension? Corresponding flats in Oldham with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease finishes on 21st October 2080
With just 59 years unexpired we estimate the premium for your lease extension to span between £20,900 and £24,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.