Our Bamburgh lawyer has uncovered an inconsistency between the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My solicitor has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
A colleague pointed out to me me that in purchasing a property in Bamburgh there could be a number of restrictions preventing external alterations to the property. Is this right?
We are aware of anumerous of properties in Bamburgh which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Bamburgh should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Bamburgh solicitors on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
Two weeks ago we had a mortgage agreed in principle with Skipton. Bamburgh conveyancing lawyers were appointed. What is the average time that one could expect to receive a mortgage offer from Skipton?
Some lenders take longer than others. Have Skipton done the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Hoping to buy a property located in Bamburgh and I am already nervous. I couldn't find anything specific about Bamburgh. Conveyancing will be needed in due course but do you know about the Bamburgh area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bamburgh. In the meantime here are some basic statistics that we found
My husband and I are one month into a leasehold purchase having been recommend to conveyancers by the high street agent to handle our conveyancing in Bamburgh. We are not happy. Could you you assist me in finding new lawyers?
They would need to be really bad to suggest changing them. Has your mortgage been issued? In the event that it has you must advise them of the new contact details and ensure the offer are re-sent. The solicitor ideally needs to be on the banks panel to avoid escalating expenses and delays. That should be your starting point. The search tool will help you find a lender approved conveyancer for your conveyancing in Bamburgh
Having had my offer accepted I require leasehold conveyancing in Bamburgh. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Bamburgh - 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 am the registered owner of a garden flat in Bamburgh, conveyancing formalities finalised June 1995. Can you work out an approximate cost of a lease extension? Equivalent properties in Bamburgh with an extended lease are worth £190,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2087
You have 61 years remaining on your lease we estimate the premium for your lease extension to range between £19,000 and £22,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account 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.
Your search tool is useful but there are many lawyers listed near Bamburgh being on the lender conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our lender?
We are not in the business of recommending one firm above another as the right Bamburgh conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Bamburgh knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..