We are purchasing a 3 bedroom apartment in Bamburgh with a mortgage. We have a Bamburgh conveyancer, but the mortgage company says he's not on their "panel". It appears that we have no option but to use one of the mortgage company panel solicitors or continue with our Bamburgh solicitor as well as pay for one of their panel ones to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, 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 Bamburgh conveyancing solicitor to apply to be on the conveyancing panel.
It is 10 years ago since I bought my property in Bamburgh. Conveyancing solicitors have now been instructed on the sale but I can't find my title deeds. Will this cause complications?
You need not be too concerned. First there is a chance that the deeds will be with the mortgage company or they could be archived with the conveyancers who handled the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Bamburgh involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Lloyds Conveyancing panel ahead of completing my conveyancing in Bamburgh?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My friend advised me that where I am buying in Bamburgh I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Bamburgh conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Bamburgh around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Bamburgh.
My wife and I purchased a leasehold house in Bamburgh. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Bamburgh who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Bamburgh conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a basement flat in Bamburgh, conveyancing was carried out in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Bamburgh with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2097
You have 72 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
I have been informed by many friends that it should take six to eight weeks for Bamburgh conveyancing to complete.This was 3 ago. The property information was only forwarded to my property lawyer last week so does the clock start running now?
No official countdown exists for conveyancing in Bamburgh, or any area in the UK. You simply have to make sure your finances are in order and wait for the rest to come together.