I plan on buying a leasehold flat in Hartlepool. My Conveyancer is not listed on the bank approved panel. Can I still appoint my Hartlepool conveyancing solicitor notwithstanding that they are excluded from the mortgage company list of approved lawyers?
Various options include
- Complete the deal with your existing Hartlepool property lawyer but your bank will undoubtedly use a lawyer from their approved panel. This will result in additional cost and potential delay.
- Choose a new property lawyer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your lawyer to pull out all the stops to get accepted on the bank’s panel of solicitors
When does exchange of contracts take place for purchase conveyancing in Hartlepool and do I need to attend the conveyancers office?
Where you are in close proximity to our conveyancing solicitors in Hartlepool you are welcome to attend to sign contracts. That being said, the firms we recommend provide countrywide coverage for conveyancing and give as equally detailed and professional a job for you when dealing with you by post or email. The executing of the purchase agreement is not when everything is set in stone. Signing on the dotted line simply enables the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hartlepool)to be in the office available at the end of the phone to exchange contracts.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Hartlepool?
There are many registered licenced Conveyancers in Hartlepool and Solicitor practices in Hartlepool to choose from It is important to make clear that both are regulated professionals specialising in the legal aspects of transferring property. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My solicitor has informed me that breach of easement insurance is needed on my purchase. What is the level of cover for Hartlepool conveyancing?
The right level of breach of easement indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such insurances.
When it comes to mortgage companies such as Skipton, do Hartlepool conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Do commercial conveyancing searches disclose impending roadworks that could affect a commercial property in Hartlepool?
Its becoming the norm that commercial conveyancing solicitors in Hartlepool will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Hartlepool. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hartlepool.
For each commercial conveyancing transaction in Hartlepool it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Hartlepool commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Hartlepool.
I decided to have a survey carried out on a house in Hartlepool prior to appointing solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies will refuse to grant a mortgage on this type of house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hartlepool. Conveyancing will be smoother if you use a solicitor in Hartlepool especially if they are accustomed to such properties in Hartlepool.
I've recently bought a leasehold property in Hartlepool. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a basement flat in Hartlepool, conveyancing formalities finalised 8 years ago. How much will my lease extension cost? Similar flats in Hartlepool with a long lease are worth £165,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2098
With 77 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.