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Find a Crawcrook and Ryton Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Crawcrook and Ryton

Our conveyancer has discovered a a problem with the lease for the property we are purchasing in Crawcrook and Ryton. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.

Will our conveyancer be raising questions concerning flooding during the conveyancing in Crawcrook and Ryton.

The risk of flooding is if increasing concern for conveyancers dealing with homes in Crawcrook and Ryton. Plenty of people will acquire a house in Crawcrook and Ryton, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Solicitors are not qualified to impart advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Crawcrook and Ryton. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to determine if the property has ever been flooded. If flooding has previously occurred and is not notified by the vendor, then a buyer may issue a claim for damages as a result of such an misleading reply. A buyer’s solicitors will also carry out an enviro search. This should reveal if there is any known flood risk. If so, more detailed investigations will need to be conducted.

Due to the input of my in-laws I had a survey completed on a property in Crawcrook and Ryton ahead of retaining conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders may refuse to issue a loan on such a house.

It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Crawcrook and Ryton. Conveyancing may be slightly more expensive based on your lender's requirements.

Do you have any advice for leasehold conveyancing in Crawcrook and Ryton with the intention of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Crawcrook and Ryton can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers’ conveyancers.
  • The majority of landlords or managing agents in Crawcrook and Ryton levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Crawcrook and Ryton. If there is a history of conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay 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 details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Crawcrook and Ryton state that internal structural changes or installing wooden flooring require a licence from the Landlord approving such alterations. Should you fail to have the approvals to hand do not contact the landlord without contacting your solicitor before hand. You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I am the registered owner of a basement flat in Crawcrook and Ryton, conveyancing was carried out May 2007. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Crawcrook and Ryton with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2097

With just 78 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

I happen to be an executor of my recently deceased parent's Will, with a house in Crawcrook and Ryton which is to be marketed. The house has never been registered at the Land Registry and I'm advised that some estate agents will insist that it is completed before they will move forward. What's the procedure for this?

In the situation you refer to it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.

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