We are close to exchanging contracts on the sale of our house in North Shields and Tynemouth and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing practice as opposed to a conveyancing solicitor in North Shields and Tynemouth. Having lived in North Shields and Tynemouth for three years we know of no issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I am purchasing my first flat in North Shields and Tynemouth with the aid of help to buy. The developers refused to move on the price so I negotiated 6k of additionals instead. The house builders rep told me not disclose to my solicitor about this deal as it would adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been on the look out for a flat up to £235,500 and found one close by in North Shields and Tynemouth I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in North Shields and Tynemouth suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I am using a search engine for the term on line conveyancing in North Shields and Tynemouth it reveals numerous solicitorslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for my move?
The preferential way of finding the right conveyancer is through a personal recommendation, so ask colleagues and those you trust who have purchased a property in North Shields and Tynemouth or a local estate agent or financial adviser. Charges for conveyancing in North Shields and Tynemouth differ, so it's a good idea to secure at least three estimates from different companies. Make sure that you clarify that the fees are fixed.
Having had my offer accepted I require leasehold conveyancing in North Shields and Tynemouth. Before I get started I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in North Shields and Tynemouth - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a 1st floor flat in North Shields and Tynemouth, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in North Shields and Tynemouth with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2083
With just 63 years remaining on your lease we estimate the premium for your lease extension to span between £16,200 and £18,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.