Can you explain why leasehold purchase conveyancing in Durham is more expensive?
The conveyancing charges on a leasehold premises in Durham is inevitably greater than on a freehold property. This is due to the supplemental work necessary in corresponding with the freeholder and management company to collate the evidence about whether the rent and service fee have been paid and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
I am buying my first flat in Durham with the aid of help to buy. The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not reveal to my solicitor about the side-deal as it may impact my mortgage with Barclays Direct. 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.
Is it simple use the search app to select a conveyancing practitioner in Durham on the authorised to act for my lender?
First pick a bank such as Barclays , Barnsley Building Society or Nottingham Building Society then specify your preferred area such as Durham. Conveyancing firms in Durham and beyond should be identified.
In my capacity as executor for the will of my grandfather I am disposing of a residence in Cardiff but live in Durham. My lawyer (who is 200 miles from meneeds me to sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Durham who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are located in Durham
Expecting to sign contracts shortly on a garden flat in Durham. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Durham should include some of the following:
You should be informed what counts as a Nuisance as far as the lease is concerned Do you need to have carpet in the flat or are you allowed wood flooring? Responsibility for repairing the window frames Ground rent - how much and when is collected, and be on notice if this is subject to change
I purchased a leasehold flat in Durham, conveyancing was carried out October 2003. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Durham with over 90 years remaining are worth £190,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2081
With 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.