The Bedlington conveyancing firm handling our Bedlington conveyancing has spotted a discrepancy between the assumptions in the home valuation survey and what is in the title deeds. My lawyer informs me that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
A relative advised me that in purchasing a property in Bedlington there may be a number of restrictions prohibiting external alterations to the property. Is this right?
We are aware of anumerous of properties in Bedlington which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Bedlington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm the only recipient of my late father’s will with all property in now in my sole name, including the my former home in Bedlington. The Bedlington property was put into my name in June. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in June. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this provision is primarily there to capture subsales or the quick reselling of property.
Is it correct that all Bedlington CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved firms?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
We are downsizing from our house in Bedlington and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Bedlington lawyer would know that there is no such problem. It does beg the question why the purchasers are using a web based conveyancing outfit as opposed to a conveyancing solicitor in Bedlington. We have lived in Bedlington for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Bedlington is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bedlington are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bedlington you would need to get your solicitor to go 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 Bedlington 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.
We're new on the property ladder - had an offer accepted, but the agent informed us that the owners will only issue a contract if we instruct the agent's preferred lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor who is accustomed to conveyancing in Bedlington
It is highly unlikely the sellers are driving this. If they want ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Try to communicate with the owners directly and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Bedlington conveyancing lawyers - rather thanthe ones that will provide their negotiator at the agency a kickback or achieve conveyancing figures set by HQ.
Can you provide any top tips for leasehold conveyancing in Bedlington with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Bedlington can be reduced where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled. The majority of landlords or Management Companies in Bedlington levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Bedlington. Some Bedlington leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and delays many a Bedlington home move. Where a reissued share certificate is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
I inherited a studio flat in Bedlington, conveyancing having been completed December 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bedlington with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2092
With only 67 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.