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Find a Darlington Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Darlington

Our solicitor has discovered a defect with the lease for the flat we are buying in Darlington. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?

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 solicitor must comply with the UK Finance Lenders’ Handbook requirements. 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 conveyancers ask for an advanced payment for my conveyancing in Darlington?

If you are buying a property in Darlington your solicitor will request that you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the sale price then this will be required shortly in advance of exchange of contracts. The final balance that is due should be sent to your lawyer a couple of days ahead of the day of completion.

I am purchasing a new build house in Darlington with the aid of help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not inform my conveyancer about this extras as it could impact my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Darlington I like with a park and station nearby, however it's only got 52 years on the lease. I can't really find anything else in Darlington in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.

Planning to exchange soon on a ground floor flat in Darlington. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Darlington should include some of the following:

    Changes to the property What remedies are open the freeholder should you breach a clause of your lease? The physical ownership of the demise. This may be the property itself but could also incorporate a roof area or cellar if appropriate. An explanation as to the provision in the lease to to contribute towards maintenance costs - with regard to both the building, and the wider rights a tenant enjoys Rent payments - what is due and what the invoice dates are, and also know whether this will change in the future
For details of the information to be contained in your report on your leasehold property in Darlington please ask your solicitor in ahead of your conveyancing in Darlington.

I purchased a 1 bedroom flat in Darlington, conveyancing formalities finalised in 2004. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Darlington with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2086

With just 62 years left to run we estimate the price of your lease extension to be between £17,100 and £19,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

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