My wife and I purchasing a victorian detached house in Hexham. We would like to carry out a loft conversion at the property.Will the conveyancing process involve investigations to ascertain if these alterations are allowed?
Your conveyancer will review the deeds as conveyancing in Hexham will on occasion reveal restrictions in the title deeds which restrict categories of works or necessitated the consent of another owner. Certain extensions require local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
Planning on purchasing a apartment in Hexham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Hexham conveyancer is on the Coventry BS conveyancing panel.
Our sealed bid on a property in Hexham has been accepted, but there is a chain. The sellers have placed an offer on somewhere, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Hexham. What should be my next step? When do I get the mortgage application with Bank of Ireland going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx one thousand pounds, then valuation, Hexham conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Bank of Ireland approved list. Concerning the subsequent phase this very much depends on the circumstances of your case, motivation for the property and on the state of the market. In a rising market many buyers would apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they request their property lawyer to move forward with searches.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Hexham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Hexham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hexham you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hexham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Given that I will soon part with £400,000 on a house in Hexham I would like to talk to a lawyer regarding theconveyancing ahead of appointing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be doing your property ownership legalities in Hexham.There is no ‘factory style conveyancing’ - every client is unique person, not a matter number. The practices that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Hexham should be the amount on the final invoice that you are charged.
My partner has suggested that I appoint his conveyancers in Hexham. Should I find my own solicitor?
No doubt the ideal way to select a conveyancing solicitor is to have feedback from friends or relatives who have experience in using the solicitor you're contemplating using.
I am tempted by the attractive purchase price for a couple of apartments in Hexham which have approximately fifty years left on the leases. should I be concerned?
There are plenty of short leases in Hexham. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area.
I invested in buying a ground floor flat in Hexham, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Hexham with an extended lease are worth £197,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2080
With only 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.