It is 10 years ago since I purchased my property in Billingham. Conveyancing lawyers have now been retained on the sale but I am unable to track down the title documents. Will this cause complications?
Don’t worry too much. First the deeds may be kept by your mortgage company or they could be archived with the lawyers who handled the purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. The vast majority of conveyancing in Billingham relates to registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would much rather use a specialised conveyancing solicitor in Billingham?
Do check but the chances are that give you one of their panel conveyancers should you want the "fee-free" offer. Call the bank to see if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Billingham.
My wife and I own a 4 bedroom Victorian property in Billingham. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching address. Is it worth asking HSBC Bank to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be 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 Billingham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing practitioner who conducted the conveyancing.
Is it simple use your search facility to locate a conveyancing practitioner in Billingham on the panel for my lender?
Step one is to select a bank such as Nationwide Building Society, Barnsley Building Society or Bank of Ireland then choose your preferred area a common one being Billingham. Conveyancing organisations in Billingham and nationally should be shown.
I am looking at a two maisonettes in Billingham which have in the region of forty five years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area.
I bought a garden flat in Billingham, conveyancing having been completed 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Billingham with a long lease are worth £191,000. The ground rent is £55 per annum. The lease ceases on 21st October 2074
You have 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.