A relative pointed out to me me that in buying a property in Boldon Colliery there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of a number of properties in Boldon Colliery which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Boldon Colliery should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Boldon Colliery. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Principality your lawyer must comply with the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and lawyers are required to report to Principality where a lease fails to satisfy these conditions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Boldon Colliery.
Clydesdale have agreed my home loan in principle, my offer on a house in Boldon Colliery has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (be sure the lawyers are on the lender’s panel). Telephone Clydesdale or the financial adviser and complete any relevant paperwork. Clydesdale will instruct a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes approximately a week to get a mortgage offer. Clydesdale will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Boldon Colliery.
My partner and I are selling our property in Boldon Colliery and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used an online conveyancing outfit rather than a conveyancing solicitor in Boldon Colliery. Having lived in Boldon Colliery for six years we know that this is a non issue. Do we contact our local Authority to obtain clarification that there is no issue.
It would appear that you 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 health insurance to cover that same illness)
I have justbeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Boldon Colliery for a purchase of a leasehold apartment 12 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest way to check if the premises is in your name, 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 Boldon Colliery conveyancing specialists.
I'm purchasing my first flat in Boldon Colliery with the aid of help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it would affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Boldon Colliery. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent should be helpful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Boldon Colliery.
I purchased a studio flat in Boldon Colliery, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Boldon Colliery with an extended lease are worth £165,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2103
With only 77 years remaining on your lease the likely cost is going to be between £7,600 and £8,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
At what point do I pay the Stamp Duty Land Tax payable for my house transaction in Boldon Colliery?
Your solicitor should complete a Land Transaction Return Form on your behalf during your Boldon Colliery purchase transaction for you to sign. On completion your conveyancer will submit your STL application to the Tax Authorities and - assuming they have the funds - pay any tax bill liability on your behalf.