I am in a contract race with another buyer for a property in Durham. What can I do to speed up matters?

First, If the seller is applying pressure for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will have local relationships and know-how. It is possible that they may have handled otherhomes in the same road. Therefore consider using a Durham conveyancing solicitor. In addition, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is said that nearly one in five of Durham conveyancing deals are suspended or jeopardised after finding out that a purchaser’s conveyancer was not on their mortgage lender’s panel. This can often result in the buying process being frustrated by as much as three weeks. It is estimated that this issue impacts approximately 100,000 home moves annually. Most Durham conveyancing firms can not act for certain banks so do check as early as possible.

Are the Durham conveyancing solicitors identified as being on the conveyancing panel, together with their details provided by ?

Durham conveyancing firms themselves provide us confirmation that they are on the conveyancing panel as opposed to being supplied with a list from directly.

Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Durham?

At this site secure a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Durham. Unlike many estate agents and many comparison sites we do not charge firms a fee if you instruct them for your conveyancing in Durham

My husband and I are a couple of weeks into a freehold purchase having been directed to a firm by the selling agent to handle our conveyancing in Durham. I am not happy. Can you help me find new solicitors?

They would need to be very bad to suggest replacing them. Has the mortgage offer been generated? If so you will need to inform them of the new contact details and get the loan are re-sent. The conveyancer needs to be on the mortgage company panel to avoid supplemental charges and frustration. That should be your starting point. The search tool should help you find a bank approved lawyer for your home move in Durham

I am looking at a couple of maisonettes in Durham both have approximately 50 years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Durham. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorates and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.

I inherited a basement flat in Durham, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Durham with a long lease are worth £165,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 50

With only 50 years remaining on your lease we estimate the price of your lease extension to range between £36,100 and £41,800 as well as legals.

The figure that we have given is 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 this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.