My wife and I are due to complete buying a property in Hurworth but as a result of damage from a small fire at the property I have managed to agree compensation from the current proprietors of three thousand pounds by way of a adjustment in the price. This was going to be dealt with as part of a side agreement however Virgin Money are not allowing this. Why were they involved?
Your solicitor being on a Virgin Money conveyancing panel is required to inform Virgin Money of any changes to the purchase price. If you prohibit your conveyancer to disclose the price change to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new solicitor for your conveyancing in Hurworth.
We see that you have a post code search directory identifying firms on the Co-operative conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Hurworth?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hurworth.
Last month we had a mortgage agreed in principle with TSB. Hurworth conveyancing practitioners have been selected. How long does it take for TSB to send the offer to the property lawyer?
Some lenders take longer than others. Have TSB done the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My partner and I are in the throws of viewing apartments in Hurworth and I am about to put in an offer. Is it wise to have a solicitor on ‘stand by’? I intend to finance via a home loan with Santander.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are taking out a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
I have decided to exercise my right to buy my property in Hurworth off the council. I have a mortgage agreed with Nationwide. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
What can a local search reveal regarding the house my wife and I purchasing in Hurworth?
Hurworth conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company such as Searchflow The local search plays an important role in most Hurworth conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the property (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 thirteen subject areas.
Are there restrictive covenants that are commonly identified as part of conveyancing in Hurworth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Hurworth. 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…’
I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Hurworth. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Hurworth are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Hurworth in which case you should be shopping around for a Hurworth conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
I purchased a studio flat in Hurworth, conveyancing was carried out June 2012. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Hurworth with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2088
With just 65 years unexpired the likely cost is going to range between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.