In the event thatI were to purchase a simple residential homein Salford mortgage fee and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Salford?
The sole reduction in fees you would achieve is the costs for searches. A conveyancer still got to do everything else - money laundering, correspond with your vendors solicitor, stamp duty submission, register the property etc. A marginal saving might be made by not having to register a charge however it won't be meaningful.
Forgive me if this question is silly but I am unexperienced as a first time buyer of a garden flat in Salford. Do I receive the keys to the house on completion from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Salford?
On the day of completion you do not need to go to the conveyancers office in Salford. Your solicitors will transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to receive the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
Intending to buy a house in Salford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Salford conveyancer is on the TSB conveyancing panel.
At last I have had an offer on a maisonette in Salford accepted, the vendors do however have a dependent purchase. The owners have put an offer on somewhere, however it’s not been accepted yet, and have viewings of other apartments booked. I have instructed a nearby conveyancing solicitor in Salford. What should be my next step? At what stage do I apply for the mortgage with HSBC?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Salford conveyancing search charges, etc). The first thing to do is check that your property lawyer is on the HSBC approved list. As to the subsequent steps this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. During a hot market the majority of purchasers would apply for a home loan with HSBC and pay for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with the conveyancing in Salford.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Salford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Salford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Salford I like with a park and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Salford for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Our lender agreed in principle to give us a mortgage. We have retained a local conveyancer in Salford two days ago. A couple of hours ago, our mortgage adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the lender had a say Is this allowed?
You are permitted to instruct any property lawyer you prefer to instruct for your conveyancing in Salford however if your bank aren't happy with them you must pay additional cost so the mortgage company can instruct their own solicitors as well to protect their interest. On occasion it is possible your solicitor may apply to get included on to the mortgage company panel. Do make the most of online search facilities such as lenderpanel.com to find a conveyancing solcitor in Salford on the mortgage company panel. You can go into your local mortgage company branch in Salford. They can recommend conveyancing solicitors in Salford on the approved list.