We were just about to exchange contracts for a garden flat in Beadnell. We encountered a stumbling block. The mortgage offer with Norwich and Peterborough Building Society runs out on 30/6/2025 but the vendors are putting forward a completion date of 2/7/2025. Is it possible to prolong the loan expiry date?
The best person to deal with your question is your conveyancer who will hopefully calculate whether he or she is should be discussing with the lender, vendor’s lawyers, selling agents or possibly all parties based on the circumstances your conveyancing to date.
My relative suggested that if I am buying in Beadnell I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Beadnell conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Beadnell around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Beadnell Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Beadnell.
I have recentlyfound out that Stirling Law have closed. They carried out my conveyancing in Beadnell for a purchase of a leasehold flat 9 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Beadnell conveyancing specialists.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Beadnell is the location of the property. Is there any guidance you can give?
Flying freeholds in Beadnell are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beadnell 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 Beadnell may determine 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 property.
Having had my offer accepted I require leasehold conveyancing in Beadnell. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and most are in Beadnell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a 2 bed flat in Beadnell, conveyancing having been completed in 2002. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Beadnell with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2096
You have 71 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
My husband and I are planning to purchase a three bedroom flatin Beadnell with a residential mortgage from a mortgage company. We have selected a lawyer in Beadnell however our lender advise she’s not on their "panel". Apparently we need to choose from the our lender panel solicitors or keep our Beadnell conveyancer and incur the extra legals for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The bank home loan offered to you is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most banks had open panels, including almost all conveyancing solicitors in Beadnell : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your bank.