I have an AIP. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to use a Rochdale based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" offer. Contact the bank to check if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Rochdale.
How does conveyancing in Rochdale differ for new build properties?
Most buyers of new build residence in Rochdale approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Rochdale typically buy the site, 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 Rochdale or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Rochdale ahead of instructing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will not give a mortgage on such a home.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rochdale. Conveyancing will be smoother if you use a solicitor in Rochdale especially if they are accustomed to such properties in Rochdale.
I have been pointed in your direction by a few selling agents in Rochdale to choose a solicitor on your site. What’s the financial advantage for Estate Agents to promote your services ahead of another?
We don’t offer any commission for sending work our way. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Rochdale. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Rochdale are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Rochdale in which case you should be shopping around for a Rochdale conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.