Do banks and building societies provide you with an approved list of Burnage conveyancing solicitors? How do you know who is on the Lloyds conveyancing panel?

Burnage conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.

How does conveyancing in Burnage differ for newly converted properties?

Most buyers of new build or newly converted property in Burnage approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Burnage typically buy 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 used to new build conveyancing in Burnage or who has acted in the same development.

I am one month into a freehold purchase having been directed to conveyancers by the high street agent to perform conveyancing in Burnage. I am am very dissatisfied with the quality of service. Can you you assist me in finding new conveyancers?

A conveyancer would need to be very bad in order to consider replacing them. Has your loan offer been issued? In the event that it has you must inform them of the new contact details and ensure the loan are re-sent. The conveyancer should be on the banks approved list to avoid escalating expenses and complications. That should be your first question of the new conveyancers. Our search tool will help you find a lender approved conveyancer for your conveyancing in Burnage

I am attracted to a couple of apartments in Burnage which have in the region of forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Burnage is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Burnage conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Burnage Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Is the freehold owned collectively by the tenants? What restrictions are contained in the Burnage Lease? How much is the ground rent and service charge?

My hope is to acquire a ground floor apartment in Burnage. Conveyancing lawyer has been waiting for, from the seller, building insurance paperwork. This morning I was advised that the seller must forward the insurance documents for the flat above also. Why would my lawyer want to review the insurance for the other flat? Is it strictly required? We have been in hold for the last fortnight…

It is not unheard of in leasehold conveyancing in Burnage to find Conveyancing in Burnage in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats as opposed to the freeholder insuring the entire block - which is definitely preferable. You should clarify with your property lawyer but it would appear that your property lawyer is attempting to verify that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt as a result of lack of insurance cover.