Conveyancing in Stockport – Sale of freehold abode on Northdown Avenue

Laura Gill, a Fridaysmove -approved Conveyancing Solicitor, assisted purchasers of a residential property on Northdown Avenue in Stockport, Cheshire, SK6.

The home was valued at approximately £155,000 and as there was more than one mortgage registered over the property, Laura needed to be sure that the registered owners would not be in negative equity and would be in a position to have both mortgages discharged. This was an obvious concern for both parties because if the value of the house declined since being purchased by the vendors, this could mean that the current value would be insufficient to pay off the lender and the transaction could fall through. When this issue arises, you will need to get your mortgage lender's permission to sell the property. Depending on the terms set out by your lender, it may be possible to transfer the existing mortgage to a new property rather than pay it off and take out a new one. This was not an issue however in this transaction and Laura was able to proceed, without delays, on behalf of her clients. 

There was a slight discrepancy between the details of the registered owners as per the draft contract documentation that was supplied by their Conveyancing Solicitor as against the title description in the official copies from the land registry. Further clarification revealed that a maiden name had been used at the time of purchase, but the seller was indeed the registered owner.

The estate agent that handled the sales marketing for the sellers was the Edward Mellor branch located at 65-81 St Petersgate, Stockport, Cheshire, SK1 1DS.

The routine local authority search was carried out via Stockport Council (Stockport Council, Town Hall, Edward Street, Stockport, SK1 3XE).

For Fast Conveyancing in Stockport for your home sale or purchase, contact Fridaysmove on 0330 660 0286 or obtain an Instant Online Quote.