My wife and I are buying a flat in Newton Aycliffe. I might seem paranoid but how we can trust a lawyer? At some point we will need to send money into their account. What is the protection we have from them run away with our money?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

My wife and I buying a detached bungalow in Newton Aycliffe. Our aim is to carry out a loft conversion at the property.Will legal investigations on the property include investigations to see if these alterations are prohibited?

Your conveyancer should review the deeds as conveyancing in Newton Aycliffe can on occasion identify restrictions in the title documents which prevent certain changes or need the permission of a 3rd party. Some works require local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.

Does a directory service exist listing Co-operative panel conveyancers in Newton Aycliffe on the Council of Mortgage Lender’s Website?

Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few banks make their panel listings available over the internet. If you are looking for a Newton Aycliffe solicitor on the Co-operative please make the most of our facility.

It has been four months following my purchase conveyancing in Newton Aycliffe concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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.

How does conveyancing in Newton Aycliffe differ for new build properties?

Most buyers of new build residence in Newton Aycliffe approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Newton Aycliffe usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Newton Aycliffe or who has acted in the same development.

Planning to exchange soon on a ground floor flat in Newton Aycliffe. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Newton Aycliffe should include some of the following:

if lease caters for for a sinking fund for major works? Ground rent - what is payable and when you need to pay, and also know whether this will change in the future The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Are you allowed to have a pet in the flat? You should have a good understanding of the insurance provisions

Newton Aycliffe Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

Please note that where the lease has fewer than 80 years it will impact the salability of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth discovering how much this will be. For most Newton Aycliffelease extensions you would be be obliged to have been the owner of the residence for 24 months in order to be legally able to extend the lease. How many of the leaseholders are in arrears for their service charge payments? Best to be warned whether changing the roof or some other major work is pending to be shared by the leaseholders and will materially increase the the service costs or require a one off invoice.

Do all mortgage companies provide you with an approved list of Newton Aycliffe solicitors? How do you know who is on the bank conveyancing panel?

Newton Aycliffe firms and firms conducting conveyancing in Newton Aycliffe themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.