The East Boldon conveyancing solicitors that I recently instructed on my house acquisition in East Boldon have suddenly closed. I chose them because I had to have a lawyer on the Co-operative conveyancing panel and my previous East Boldon lawyer was not. I cut them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Me and my partner are purchasing a house in East Boldon. It might be a silly question but how we can trust a solicitor? At some point we will need to put funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in East Boldon. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
As you are obtaining a mortgage with Nationwide your lawyer must check the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to Nationwide where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not limited to East Boldon.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local East Boldon solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your East Boldon postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in East Boldon.
What does a local search reveal concerning the property I am purchasing in East Boldon?
East Boldon conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searchflow The local search plays an important role in many a East Boldon conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
About to purchase a new build flat in East Boldon. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in East Boldon
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I have been recommended by a few estate agents in East Boldon to find a conveyancer on your site. Is there a financial upside for Estate Agents to offer your services over a competitor’s?
We refuse to make any commission for sending work in our direction. We thought it would be too underhand a fee because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
If all goes to plan we aim to complete the sale of our £325,000 maisonette in East Boldon next week. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in East Boldon?
East Boldon conveyancing on leasehold maisonettes often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be willing to assist. They are at liberty to invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is demanded should you wish to sell the property.
I own a leasehold flat in East Boldon, conveyancing formalities finalised October 1997. Can you work out an approximate cost of a lease extension? Similar flats in East Boldon with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2094
With 69 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.