My wife and I are hoping to buy a home in Newcastle upon Tyne and are in fact using a Newcastle upon Tyne conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. The Royal Bank of Scotland have this morning contacted us to advise us that they have now hit a problem as our Newcastle upon Tyne lawyer is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Newcastle upon Tyne lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My fiance and I intend to remortgage our apartment in Newcastle upon Tyne with Lloyds. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Lloyds conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Lloyds. This is solely used to protect Lloyds if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Lloyds had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am assisting my aunt sell her house in Newcastle upon Tyne. Does the conveyancer commission an energy assessment or should I organise this?
After the abolition of Home Packs, energy performance certificates remained a mandatory part of moving house. An energy performance certificate must be to hand before the property is put on the market. It is not as aspect of the sale process that law firms normally organise. Where you are using a Newcastle upon Tyne conveyancing practitioner they may be willing to arrange EPC’s due to their relationships with reputable local energy assessors
We are purchasing a terrace house in Newcastle upon Tyne. The intention is to an extension at the rear at the house.Will the conveyancing process involve enquiries to see if these works are prohibited?
Your property lawyer will check the deeds as conveyancing in Newcastle upon Tyne will sometimes identify restrictions in the title documents which restrict certain works or need the permission of a 3rd party. Certain extensions require local authority planning permissions and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor prior to committing yourself to a purchase.
I am currently in the process of buying my council flat in Newcastle upon Tyne. I have a mortgage offer with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
Is there anything unique about your site and other web based conveyancing solicitors for conveyancing in Newcastle upon Tyne?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Newcastle upon Tyne. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you choose them for your conveyancing in Newcastle upon Tyne
I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Newcastle upon Tyne. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Newcastle upon Tyne ?
Most houses in Newcastle upon Tyne are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Newcastle upon Tyne so you should seriously consider shopping around for a Newcastle upon Tyne conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
I bought a garden flat in Newcastle upon Tyne, conveyancing formalities finalised half a dozen 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? Comparable flats in Newcastle upon Tyne with an extended lease are worth £202,000. The ground rent is £60 per annum. The lease expires on 21st October 2079
With 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.