Do I select a Licenced Conveyancer or Solicitor for conveyancing in Belford?

There are two types of lawyers who can execute conveyancing in Belford namely licenced conveyancers or solicitors. The two can administer conveyancing services that required to complete the sale or purchase of property. They are both obliged to conduct Belford conveyancing on similar quality and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that all requirements and procedures will be suitably attended to.

When it comes to lenders such as Clydesdale, do Belford conveyancers incur a fee to be on the list of approved solicitors?

We are unaware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.

is it true that all Belford solicitor firms on the HSBC conveyancing panel are overseen by the Solicitors Regulatory Authority?

As solicitors, in order to be on the HSBC approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the firms would be governed by the CLC.

I have justfound out that Stirling Law have been shut down. They conducted my conveyancing in Belford for a purchase of a leasehold flat 18 months ago. How can I establish that my home is not still registered in the name of the former proprietor?

The quickest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Belford conveyancing specialists.

How does conveyancing in Belford differ for newly converted properties?

Most buyers of new build or newly converted property in Belford come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Belford usually buy 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 Belford or who has acted in the same development.

Due to the input of my in-laws I had a survey completed on a property in Belford ahead of appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to issue a loan on a flying freehold home.

It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Belford. Conveyancing may be slightly more expensive based on your lender's requirements.

What makes a Belford lease problematic?

There is nothing unique about leasehold conveyancing in Belford. All leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

A provision to repair to or maintain parts of the premises Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I invested in buying a split level flat in Belford, conveyancing was carried out in 2004. Can you work out an approximate cost of a lease extension? Equivalent flats in Belford with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2085

You have 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.