We note that you have a post code search directory listing firms on the Virgin Money conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Durham?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Durham.
It has been three months following my purchase conveyancing in Durham completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Durham with the aid of help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about this extras as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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 decided to have a survey carried out on a property in Durham ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks may refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Durham. Conveyancing will be smoother if you use a solicitor in Durham especially if they regularly deal with such properties in Durham.
My fiance and I may need to sub-let our Durham 1st floor flat for a while due to a career opportunity. We instructed a Durham conveyancing firm in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Durham do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I inherited a basement flat in Durham, conveyancing was carried out 7 years ago. How much will my lease extension cost? Comparable flats in Durham with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2082
With only 63 years unexpired the likely cost is going to range between £16,200 and £18,600 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.