My father informed me that in buying a property in Tyldesley there could 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 Tyldesley which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Tyldesley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the single beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Tyldesley. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be treated the same way as if I'd bought the property in March. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Most banks would take a pragmatic view as this obligation chiefly exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
My husband and I are spending time looking at houses in Tyldesley and I am about to put in an offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with Kent Reliance.
It would be wise to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are getting a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I'm buying a new build house in Tyldesley with a mortgage from Leeds Building Society. The developers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent told me not inform my conveyancer about the side-deal as it would affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Tyldesley I like with amenity areas and railway links nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Tyldesley suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
In my capacity as executor for the will of my father I am selling a house in Swansea but reside in Tyldesley. My conveyancer (based 235 kilometers awayrequires that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing lawyer in Tyldesley to witness this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are located in Tyldesley
I am intending to sublet my leasehold flat in Tyldesley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in Tyldesley do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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.
I own a 1 bedroom flat in Tyldesley, conveyancing having been completed in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Tyldesley with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2080
With only 61 years unexpired we estimate the premium for your lease extension to span between £18,100 and £20,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.