My financial adviser requires my Consett solicitor’s panel member for the Santander conveyancing panel. Can you suggest how I discover this. I have e-mailed my local Consett branch but they have not responded to me.
You are best placed to get this information from your Consett solicitor . Most Consett conveyancing firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather use a Consett based conveyancing firm?
Do check but the chances are that allocate you one of their panel conveyancers if you accept the "fee-free" incentive. Contact the bank to see if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Consett.
Will our lawyer be asking questions regarding flooding during the conveyancing in Consett.
The risk of flooding is if increasing concern for solicitors dealing with homes in Consett. Some people will purchase a property in Consett, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a number of searches that may be undertaken by the buyer or by their conveyancers which will give them a better appreciation of the risks in Consett. The conventional set of information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to find out if the property has historically flooded. In the event that the premises has been flooded in past which is not notified by the vendor, then a buyer could issue a claim for damages as a result of such an misleading response. The purchaser’s conveyancers will also commission an enviro report. This will reveal if there is a recorded flood risk. If so, additional investigations should be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Consett?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Consett. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Consett differ for newly converted properties?
Most buyers of new build residence in Consett come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because developers in Consett tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Consett or who has acted in the same development.
Do you have any advice for leasehold conveyancing in Consett from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Consett can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors. The majority of freeholders or Management Companies in Consett levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Consett. Some Consett leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 solicitors. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I inherited a 2 bed flat in Consett, conveyancing was carried out in 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Consett with over 90 years remaining are worth £207,000. The ground rent is £60 levied per year. The lease ceases on 21st October 2079
With only 57 years left to run we estimate the price of your lease extension to range between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.