I am considering applying for a TSB mortgage for purchase of a new build (under development) in Dunston with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My wife and I purchased a semi-detached Victorian house in Dunston. Conveyancing practitioner represented me and Barclays . I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dunston and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the purchase.
I need to appoint a conveyancing solicitor for my conveyancing in Dunston. I happened to land on a site which looks to be the perfect answer If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any top tips for leasehold conveyancing in Dunston with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Dunston can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may have to bite the bullet and discharge 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 purchasers, but it is better to present the dispute as over as opposed to ongoing. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Dunston state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not communicate with the landlord without contacting your lawyer first. You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I acquired a ground floor flat in Dunston, conveyancing formalities finalised March 1995. Can you work out an approximate cost of a lease extension? Comparable flats in Dunston with a long lease are worth £186,000. The ground rent is £55 per annum. The lease runs out on 21st October 2073
With 52 years remaining on your lease we estimate the price of your lease extension to range between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
My sister completed her conveyancing in Dunston in 2007. She has got married, divorced and has recently remarried. She wishes to sell the property in a couple of months. I believe she will just be need to provide a copy of her marriage certificates to the property lawyer but she is concerned it will hold up the sale of the house. Should she instruct a property lawyer to update the title documents for the house?
You are not required to update the register on the basis that you have the proof required to show how the change of name occurred.
Any buyer’s property lawyer will check the land registry entries and need evidence to prove the change of name for instance marriage certificates.