Can you explain why leasehold purchase conveyancing in Didsbury costs more?
In short, leasehold conveyancing in Didsbury and Greater Manchester usually requires more due diligence compared to freehold conveyancing. This includes lease investigation, corresponding with the landlord concerning the service of applicable notices, securing current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My flat in Didsbury is up for sale and I have accepted an offer. Will the lawyer have to be required to be on the HSBC conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the HSBC conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
Various online forums that I have come across warn that are the number one cause of obstruction in Didsbury conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Didsbury.
My wife and I purchased a terraced Edwardian property in Didsbury. Conveyancing practitioner acted for me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Didsbury 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 situation with the conveyancing solicitor who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Didsbury is where the house is located. Can you offer any advice?
Flying freeholds in Didsbury are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Didsbury you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Didsbury may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.