My wife and I have a semi-detached Georgian property in Redcar. Conveyancing lawyer represented me and . I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?

You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Redcar and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing practitioner who conducted the conveyancing.

I'm buying a new build house in Redcar with the aid of help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not to tell my conveyancer about the extras as it would impact my loan with . Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Redcar is where the house is located. Is there any guidance you can give?

Flying freeholds in Redcar are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Redcar you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Redcar may determine 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 residence.

I'm refinancing my existing house to a BTL loan with and I will use the rest of the raised equity as a down payment on another house. The area we are looking at is Redcar. Will your lawyers be able to act for both sets of mortgage companies and link together the transactions?

Make use of our search tool on this site to ensure that the solicitors are approved by both lenders. On the basis that they are the lawyer will be able to connect the two conveyancing matters but you should talk with you lawyer and make clear your desired outcome and requirements.

I am tempted by the attractive purchase price for a couple of apartments in Redcar both have approximately forty five years remaining on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Redcar is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most buyers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Redcar conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Redcar - Sample of Questions you should ask Prior to buying

Is anyone aware of any major works in the planning that will increase the service fees? How is the lease structured? Generally speaking the outlay for major works are not incorporated into the service charges, although there some managing agents in Redcar ask leaseholders to pay into a reserve fund created for the specific purpose of building a fund for larger works.