My solicitor has discovered a defect with the lease for the flat we are buying in Barnard Castle. The other side have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the lender is content with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. These conveyancing instructions must be adhered to.
I require fast conveyancing in Barnard Castle as I am under pressure to sign on the dotted line inside 4 weeks. Luckily I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Barnard Castle the following are instances of issues that can appear and therefore impact future mortgageability: Enforcement Notices, Overdue Fees, Overdue Grants, Road Schemes,...
How does conveyancing in Barnard Castle differ for new build properties?
Most buyers of new build residence in Barnard Castle contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Barnard Castle usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Barnard Castle or who has acted in the same development.
In my capacity as executor for the estate of my father I am disposing of a residence in Swansea but reside in Barnard Castle. My lawyer (approximately 300 kilometers awayhas requested that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Barnard Castle to attest and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Barnard Castle based
I have just started marketing my garden flat in Barnard Castle. Conveyancing has not commenced, however I have just received a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as you normally would given that all ground rent and maintenance charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I acquired a 1st floor flat in Barnard Castle, conveyancing having been completed in 2006. How much will my lease extension cost? Comparable properties in Barnard Castle with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2092
With only 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.