My wife and I are hoping to acquire a home in Spennymoor and are in fact using a Spennymoor conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Barnsley Building Society have this afternoon contacted us to advise us that there is now an issue as our Spennymoor conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Spennymoor lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am assisting my niece sell her house in Spennymoor. Will the solicitor commission an energy assessment or it is for the owner to see to?
Following the demise of Home Information Packs, EPC’s was left as a mandatory component of selling a house. An energy assessment must be commissioned in advance of the property being marketed. This is not as aspect of the sale process that solicitors normally arrange. If you are using a Spennymoor conveyancing practitioner they might help arrange energy performance certificates given their contacts with reputable local providers
We had appointed conveyancers locally in Spennymoor on the Nottingham solicitor approved list. They have just invoiced me a supplemental fee for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner may levy a fee for this. The charge is not set by Nottingham but by your Spennymoor solicitor. Some firms on the Nottingham panel will charge an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
I am due to exchange contracts on my apartment. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Clydesdale are being difficult. The Spennymoor solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to my house can not be found. The lawyers who dealt with the conveyancing in Spennymoor 5 years ago have long since closed. Will I be able to sell the house?
Gone are the days when you need to hold title deeds to establish that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Spennymoor and how can your lawyers assist?
The 1954 Act provides protection to commercial lessees, granting the right to make a request to court for a renewal tenancy and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Spennymoor
Last July I purchased a leasehold property in Spennymoor. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a leasehold flat in Spennymoor, conveyancing was carried out in 2009. How much will my lease extension cost? Comparable properties in Spennymoor with an extended lease are worth £202,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2078
With just 56 years remaining on your lease we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you 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 concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.