We have rather pushy vendors who has recommended a exclusivity contract with a down payment 10k. Are such agreements sensible?
This kind of contract is unusual in Northumberland, conveyancers are not keen on them as they detract from focusing on the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the proprietor has entered into an exclusivity contract they will sell to you. They may be in contravention of the contract if they receive a large enough financial inducement to do so because an aggrieved party with the benefit of a exclusivitycontract will still be legally obliged to show losses as a consequence of the breach and these may not equate the extra amount that the owner may obtain by breaching the contract, however morally condemnable it undoubtedly is.
If you had a top tip for selecting a conveyancing solicitor in Northumberland what would it be?
It would be unwise to be tempted by the lowest Northumberland conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all Northumberland conveyancing solicitors on the Principality conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be governed by the SRA. Some lenders do allow licenced conveyancers on their panel and in that case the practice would be regulated by the CLC.
We previously chose solicitors based in Northumberland on the Coventry BS solicitor approved list. They have just billed me a separate charge for handling the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your solicitor may levy a fee for this. This fee is not set by Coventry BS but by your Northumberland property lawyer. Numerous firms on the Coventry BS panel will quote an ‘acting for lender’ fee but plenty of practices incorporate it on their overall fee.
Me and my brother own a renovated Victorian property in Northumberland. Conveyancing practitioner represented me and Virgin Money. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Northumberland and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing practitioner who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Northumberland. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Northumberland
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan.
We expect to complete the disposal of our £350,000 garden flat in Northumberland in 5 days. The freeholder has quoted £384 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Northumberland?
For most leasehold sales in Northumberland conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering conveyancing due diligence questions
Where consent is required before sale in Northumberland
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a split level flat in Northumberland, conveyancing formalities finalised 6 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Northumberland with a long lease are worth £260,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2100
With 74 years left to run the likely cost is going to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure 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 taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
The estate agent has recommended their conveyancer for my conveyancing in Northumberland - Is it not simpler advisable to just use them?
It is not always the case and you are free to opt for whichever lawyer you prefer for your Northumberland conveyancing. A lawyer suggested by an estate agent may not always be the best property lawyer, they may put forward their own conveyancing firm who are based far away. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.