As someone not used to conveyancing in Peterlee what’s the number one tip you can impart concerning the legal transfer of property in Peterlee
Not many law firms or advisers will tell you this but conveyancing in Peterlee and elsewhere in County Durham is often a confrontational experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for friction between you and other parties involved in the legal transfer of property. E.g., the seller, selling agent and on occasion a bank. Choosing a law firm for your conveyancing in Peterlee an important selection as your conveyancer is your adviser, and is the ONE party in the process whose interest is to protect your best interests and to keep you safe.
We are witnessing a worrying emergence in the "blame" culture- someone must be at fault for the process being so protracted. You your first instinct should be to trust your solicitor ahead of the other parties in the conveyancing process.
My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Peterlee. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
Where you plan to refinance then Lloyds will insist on your using a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
three months have elapsed since my purchase conveyancing in Peterlee took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £305k and identified one near me in Peterlee I like with amenity areas and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Peterlee in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Should I use a Peterlee conveyancing lawyer based in the area that I am hoping to buy? An old friend can handle the legal work but her office is 300miles drive away.
The benefit of a high street Peterlee conveyancing practice is that you can visit the firm to execute paperwork, hand in your ID and pester them if necessary. Having local Peterlee know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that must trump using an unknown Peterlee conveyancing solicitor just because they are Peterlee based.
I am purchasing a maisonette and cash is in place. My conveyancer has been supplied with with 2 separate evidence of photo ID, bank statement, multiple utility bills. Now he wants a copy from a probate lawyer stating that the funds are in place and that it has come from inheritance and not selling fake watches.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Peterlee conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.