We are purchasing a apartment in Littleborough. It might be a silly question but how we can trust a conveyancer? At some point we have to send our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am acquiring a property for cash in Littleborough. I have been residing for the previous 15 years in Littleborough. Conveyancing searches are exorbitant. As I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then all but one or two of the Littleborough conveyancing searches are optional. Your lawyer will try and sway you, perhaps strongly, that you should have searches done, but he is duty bound to take that path of advice. One thing to bear in mind; if you are intend to dispose of the house at a future date, it will likely be be of relevance to your prospective buyer what the searches reveal. Sometimes properties with no practical issues can still throw up unfavourable search results.A good conveyancing solicitor in Littleborough should provide you some constructive guidance here.
I have been on the look out for a flat up to £245,000 and identified one near me in Littleborough I like with a park and station in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Littleborough for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 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 current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.