My wife and I are hoping to buy a 3 bedroom flat in Durham with a mortgage. We would like to retain our Durham conveyancer, however the lender advise she’s not on their "panel". We have to appoint one of the bank panel firms or retain our Durham solicitor and pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: 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. A further alternative is for your Durham conveyancing solicitor to apply to be on the conveyancing panel.
It is a dozen years since I acquired my house in Durham. Conveyancing solicitors have now been appointed on the sale but I am unable to track down my title documents. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your lender or they may be in the possession of the solicitor who oversaw the purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Nearly all conveyancing in Durham relates to registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
I am looking to buy a flat and require a conveyancing solicitor in Durham who is on the Birmingham Midshires solicitor. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Birmingham Midshires in certain locations such as Durham. We dont recommend any particular firm.
I am the single beneficiary of my late mum's estate and I have everything in my name alone, including the house in Durham. The Durham property was put into my name in July. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in July. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Most mortgage companies would take a sensible view as this provision is primarily there to capture subsales or the wholesaling and assigning of properties.
How can we tell if a Durham conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Durham seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer handling your transaction.
We expect to receive a AIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Durham solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Durham solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
Will my lawyer be making enquiries regarding flooding as part of the conveyancing in Durham.
The risk of flooding is if increasing concern for solicitors dealing with homes in Durham. There are those who buy a property in Durham, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous checks that can be carried out by the buyer or by their solicitors which should give them a better appreciation of the risks in Durham. The conventional set of property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to discover whether the property has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the vendor, then a buyer may commence a claim for damages as a result of such an inaccurate answer. The buyer’s lawyers may also carry out an enviro report. This should indicate whether there is a recorded flood risk. If so, further inquiries will need to be made.
I have been on the look out for a flat up to £235,500 and found one round the corner in Durham I like with open areas and railway links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Durham suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.