My fiance and I intend to purchase a newly converted flat in Peterlee with a homeloan from Coventry Building Society.We have a Peterlee conveyancing practitioner but Coventry Building Society advised that she’s not on their approved list of firms. We have to appoint a Coventry Building Society panel solicitor or retain our preferred solicitor and fork out for a Coventry Building Society panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan issued to you contains terms and conditions, one of which will be that lawyers will be on the Coventry Building Society approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Coventry Building Society
Is it necessary to take out insurance to address the risk of chancel repairs when acquiring a house in Peterlee?
Unless a previous acquisition of the house took place after 12 October 2013 you can assume that lawyers handling conveyancing in Peterlee to continue to propose a a chancel search and or insurance against a claim.
I have todaydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Peterlee for a purchase of a leasehold apartment 10 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Peterlee conveyancing specialists.
I was pointed in your direction by a number of selling agents in Peterlee to select a conveyancer using your seach tool. Is there a financial upside for Estate Agents to offer your services rather than alternative conveyancing organisations?
We don’t give any commission for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £250,000 flat in Peterlee on Wednesday in a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Peterlee?
Peterlee conveyancing on leasehold maisonettes ordinarily involves administration charges invoiced by landlords agents :
Completing pre-contract questions
Where consent is required before sale in Peterlee
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a split level flat in Peterlee, conveyancing formalities finalised in 2010. How much will my lease extension cost? Comparable flats in Peterlee with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease terminates on 21st October 2074
With just 55 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 plus professional fees.
The figure 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 in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. 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. You should not take any other action based on this information before seeking the advice of a professional.