Our conveyancer has uncovered a a legal deficiency with the lease for the property we are buying in Bedlington. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. These conveyancing instructions have to be complied with.
Should our solicitor be making enquiries about flooding during the conveyancing in Bedlington.
The risk of flooding is if increasing concern for solicitors dealing with homes in Bedlington. Some people will purchase a house in Bedlington, fully 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, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Bedlington. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to determine whether the property has historically flooded. In the event that the property has been flooded in past which is not revealed by the owner, then a purchaser may issue a legal claim for losses resulting from an inaccurate answer. A buyer’s solicitors may also commission an environmental report. This will reveal if there is any known flood risk. If so, additional inquiries will need to be carried out.
I have a renovated Victorian property in Bedlington. Conveyancing solicitor acted for me and Lloyds TSB Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the exact same address. 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bedlington 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 mortgage companies. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
I am using a search engine for the words on line conveyancing in Bedlington it reveals many property lawyerslocally. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The ideal way of seeking a suitable conveyancer is through a personal recommendation, so enquire of colleagues and relatives who have bought a property in Bedlington or a local estate agent or financial adviser. Charges for conveyancing in Bedlington vary, so it's a good idea to request a minimum of three costs illustrations from varying types of law firms. Be sure to secure confirmation what costs in the quote includes.
I only have Seventy years unexpired on my lease in Bedlington. I now want to extend my lease but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent may be useful to try and locate and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Bedlington.
I own a 2 bed flat in Bedlington, conveyancing having been completed in 1997. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Bedlington with a long lease are worth £227,000. The ground rent is £50 yearly. The lease terminates on 21st October 2097
With only 72 years left to run the likely cost is going to range between £9,500 and £11,000 as well as 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 renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
I acquired a house in Bedlington last 27/12/2023 and to date it is still not registered with HM Land Registry. It was part of a new estate and my conveyancing practitioner told me that it may take 12 months to register. I have spoken with HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. What can I do?
Contact your conveyancing practitioner - Where you are unsatisfied with the responses, find out about their firm’s complaints procedure and escalate your problem to a Complaints Manager. Registrations for Bedlington conveyancing are not known to be particularly slow.