My partner and I are only a couple days away from an exchange on a property in Chester le Street and my mum and dad have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your lawyer is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
A colleague advised me that if I am buying in Chester le Street I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Chester le Street conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Chester le Street around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Chester le Street.
I used Arc property Solicitors a few years ago for my conveyancing in Chester le Street. I now require my file however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Chester le Street of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build flat in Chester le Street. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Chester le Street
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I only have Sixty One years remaining on my flat in Chester le Street. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. For most situations a specialist should be useful to carry out a search and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Chester le Street.
I invested in buying a studio flat in Chester le Street, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Chester le Street with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2094
You have 69 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
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 without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Myself and my husband have recently had an offer agreed on a house and had an appointment on Wednesday with Nationwide for the mortgage. They advised us that when it comes to appointing a property lawyer that unless they are on their approved list of property lawyers then we will have to pay out an additional fee of £200. This is because they would then have to appoint a solicitor to act for them in addition to the one we choose to act for ourselves and we assume responsibility for their costs. I have requested Nationwide to send me with a list so I can seek estimates only from their approved lawyers but was told they dont have such a list to hand over. Is there a list online?
Ask Nationwide what their panel criteria is for a solicitor.Then ask the conveyancer of your choice whether they fit that criteria and have they acted on mortgages for Nationwide before. If the answer to those is yes, then just double check with Nationwide. Alternatively please make use of our search facility and we should be able to find you a lawyer in Chester le Street on the panel for Nationwide.