I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Chester le Street. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 29/3/2025, the requirements read as follows :
Are there restrictive covenants that are commonly picked up during conveyancing in Chester le Street?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Chester le Street. 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…’
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Chester le Street is the location of the property. What do you suggest?
Flying freeholds in Chester le Street are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chester le Street you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chester le Street may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be wary that brokers that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local Chester le Street conveyancing company?
As is the case with lots of professional services, often recommendations from family and friends can be most helpful. But there are lots of parties with a keen interest in a conveyancing deal; estate agents, financial adviser and banks may recommend lawyers to select. On occasion these conveyancers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You are at liberty to appoint your own lawyer. Don't forget that many banks specify a panel list of conveyancers you must use for the lender aspect of your home move.
I have recently realised that I have 62 years remaining on my flat in Chester le Street. I now wish to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the freeholder. On the whole a specialist would be helpful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Chester le Street.
I bought a studio flat in Chester le Street, conveyancing was carried out August 2001. 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? Similar properties in Chester le Street with an extended lease are worth £221,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2095
You have 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
The estate agent has suggested using their property lawyer for my conveyancing in Chester le Street - Surely it’s easier to just instruct them?
You need to establish if the estate agent is recommending a property lawyer or introducing to a solicitor. There are plenty of Chester le Street estate agents who recommend two or three Chester le Street conveyancing firms purely based on those lawyers offering a great service.