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Ready to buy a new home in Consett? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Consett transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Consett

The sellers of the home we are looking to purchase are using a conveyancing firm in Consett who has recommended a exclusivity agreement with a non-refundable deposit of 5k. Are such agreements sensible?

Lock out contracts are agreements between a home vendor and prospective buyer granting the buyer exclusive rights to the sale of the premises within a prescribed time frame. Essentially, an exclusivity agreement is a contract specifying that you should receive a contract at a later time being the contract for the actual sale. It tends to be used for buyer confidence though in some cases, the proprietor may stand to benefit from such agreements as well. There are various positives and negatives to using them but you should to check with your lawyer but note that it may end up costing you extra in conveyancing charges. In light of these reasons these agreements are rare when it comes to conveyancing in Consett.

What is the difference between a licensed conveyancer and conveyancing solicitor in Consett

There are many recorded licenced Conveyancers in Consett and Solicitor practices in Consett who provide Conveyancing services It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

My conveyancer has informed me that lack of planning permission insurance is needed on my purchase. What is the level of cover for Consett conveyancing?

The right level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Barclays and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.

Are all Consett Conveyancing Quality Solicitors on the Skipton conveyancing panel?

It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.

My friend suggested that if I am purchasing in Consett I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is sometimes quoted for as part of the standard Consett conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Consett around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Consett Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Consett Education with plans and statistics, Local Amenities and other useful data about Consett.

I decided to have a survey completed on a house in Consett prior to appointing solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend refuse to give a mortgage on a flying freehold premises.

It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Consett. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Consett to see if the conveyancing will be more expensive.

My conveyancing in Consett is set to complete this Friday, yet the owners I am buying from has asked to move out the next day at noon. Can I agree to this?

If you need a bank loan then your property lawyer will insist that you have vacant possession on Friday - the bank will demand it.

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Find out more about how flying freehold can affect your the value of a property.