My Solicitor in Spennymoor has never been on on the Aldermore Solicitor Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are not on the Aldermore approved list?
Your options are as follows:
- Carry on with your preferred Spennymoor lawyers but Aldermore will need to retain a solicitor on their panel. This will result in additional total legal fees as well as cause delays.
- Find an alternative lawyer to to deal with the conveyancing, not forgetting to check they are Aldermore approved.
- Persuade your Aldermore solicitor to seek to join the Aldermore panel
Last month we had a mortgage agreed in principle with TSB. Spennymoor conveyancing solicitors have been instructed. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB conducted the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The formalities of my purchase has taken place for my property in Spennymoor. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I had an offer accepted on an apartment in Spennymoor on 11/12/2018, valuation was booked 3 days later, all came back fine. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Are Kent Reliance entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my lawyer be asking questions concerning flooding as part of the conveyancing in Spennymoor.
Flooding is a growing risk for lawyers dealing with homes in Spennymoor. Plenty of people will acquire a property in Spennymoor, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of searches that may be carried out by the purchaser or by their lawyers which should give them a better appreciation of the risks in Spennymoor. The conventional set of property information forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover if the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the owner, then a buyer could bring a legal claim for losses resulting from an incorrect response. A buyer’s lawyers will also order an environmental search. This will disclose if there is any known flood risk. If so, further inquiries should be made.
Are there restrictive covenants that are commonly picked up during conveyancing in Spennymoor?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Spennymoor. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Having had my offer accepted I require leasehold conveyancing in Spennymoor. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Spennymoor - then the leasehold title will always include the short particulars 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 studio flat in Spennymoor, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Spennymoor with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2074
With 55 years unexpired the likely cost is going to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously 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.