I am buying a house for cash in Wallsend. I have lived for the previous 20 years in Wallsend. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Wallsend conveyancing searches are non-obligatory. Your solicitor will 'advise', no-doubt strongly, that you should have searches carried out, but he has a professional duty to take that path of encouragement . Do consider; if you are intend to sell the house in the future, it may be of relevance to your prospective purchaser what the searches disclose. Sometimes premises with functional issues can still throw up adverse search results. A competent conveyancing solicitor in Wallsend will be able to give you some practical advice in this regard.
Do all mortgage companies provide you with an approved list of Wallsend conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Wallsend conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Are there restrictive covenants that are commonly identified during conveyancing in Wallsend?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Wallsend. 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…’
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Wallsend is the location of the property. What do you suggest?
Flying freeholds in Wallsend are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wallsend you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wallsend may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My husband and I are a fortnight into a leasehold purchase having been recommend to a firm by the high street agent to perform conveyancing in Wallsend. We are not happy. Can you you assist me in finding new lawyers?
A lawyer would have to be really bad to suggest replacing them. Has the mortgage offer been sent? If so you will need to make them aware of the new contact details and have the offer are re-issued. Your new solicitor ideally needs to be on the banks panel to avoid escalating fees and complications. So that should be your starting point. Our find a solicitor tool should help you find a bank approved solicitor for your conveyancing in Wallsend
Can you provide any advice for leasehold conveyancing in Wallsend with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Wallsend can be reduced where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers’ representatives. If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Some Wallsend leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
I acquired a ground floor flat in Wallsend, conveyancing having been completed July 2006. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Wallsend with a long lease are worth £186,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2076
With 52 years left to run the likely cost is going to span between £29,500 and £34,000 plus professional fees.
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 detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.