I can't travel far from Boldon. What is the rationale as to why all Boldon solicitors aren't included on all lender panels?
As inequitable as it may seem for lenders to limit who can act for them, from the public’s or conveyancer’s standpoint, the other side of the coin is that banks are becoming ever more anxious and regard it essential to protect them from illegal activities. As a consequence of this concern banks have reduced their conveyancing panel to a manageable size.
Are the BSA intent on creating a online directory to list practices on the Darlington Building Society conveyancing panel for example in Boldon?
We are not aware of any plans on the part of the BSA to promote such a register.
I had a mortgage agreed in principle with Virgin Money. Boldon conveyancing solicitors have been selected. How long does it take for Virgin Money to issue the offer to the solicitor?
Some lenders take longer than others. Have Virgin Money done the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We have agreed to purchase a house in Boldon. One unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Virgin Money your lawyer must comply with the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Virgin Money where a lease fails to comply with these conditions. The requirements relate to the installation of panels on properties countrywide and is not restricted to Boldon.
Our offer on a property in Boldon has been accepted, but there is a chain. The vendors have offered on on an apartment, however it’s not yet agreed to, and are looking at other apartments booked. I have chosen a nearby conveyancing solicitor in Boldon. What should be my next step? When do I get the mortgage application with Bank of Ireland started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Boldon conveyancing search costs, etc). The first course of action is to check that your solicitor is on the Bank of Ireland approved list. Concerning the next phase this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. In a hot market some purchasers will apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they request their conveyancer to press on with the conveyancing in Boldon.
Are there restrictive covenants that are commonly identified as part of conveyancing in Boldon?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Boldon. 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…’
How does the Landlord & Tenant Act 1954 impact my business offices in Boldon and how can you help?
The particular law that you refer to gives a safeguard to commercial tenants, giving them the legal entitlement to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Boldon
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Boldon. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Boldon are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Boldon so you should seriously consider shopping around for a Boldon conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.
I own a leasehold flat in Boldon, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Boldon with over 90 years remaining are worth £175,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2083
With just 58 years remaining on your lease we estimate the price of your lease extension to range between £23,800 and £27,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered 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.