Our lender has suggested solicitors on their panel based in Shildon but I would rather choose a conveyancing lawyer in Shildon round the corner to me. Are you able to help?
It is by no means the case that all Shildon conveyancing firms are on all lender’s conveyancing panel. Please make use of our find an approved solicitor tool to locate a Shildon conveyancing solicitor on the on the lender panel.
Me and my partner are purchasing a house in Shildon. I might seem paranoid but how we can trust a lawyer? At some point we will need to deposit our life savings into their account. What is the protection we have from them run away with our monies?
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.
When it comes to lenders such as Santander, do Shildon property lawyers incur a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Shildon conveyancing practitioner on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I need some expedited conveyancing in Shildon as I have pressure to sign on the dotted line within 2 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
As you are not taking a mortgage you are at liberty not to do searches although no law firm would suggest that you don't. With lots of history conveyancing in Shildon the following are instances of what can crop up and adversely impact the marketability of the property: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
I'm purchasing a new build house in Shildon with a loan from Britannia. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not inform my lawyer about this deal as it may jeopardize my mortgage with Britannia. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a property in Shildon ahead of appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks may refuse to grant a loan on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Shildon. Conveyancing will be smoother if you use a solicitor in Shildon especially if they are familiar with such properties in Shildon.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Shildon. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Shildon ?
Most houses in Shildon are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Shildon so you should seriously consider looking for a Shildon conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.
I own a 2 bed flat in Shildon, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in Shildon with a long lease are worth £197,000. The ground rent is £55 per annum. The lease terminates on 21st October 2081
With only 55 years unexpired we estimate the price of your lease extension to range between £31,400 and £36,200 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.