My wife and I are due to complete on the purchase of a property in County Durham but as a consequence of damage from some water damage at the property I have managed to agree reparation from the vendor in the sum of £3k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process but UBS are not allowing this. Should they have been informed?
The solicitor being on the UBS approved list is required to disclose to UBS of any variations to the sale price. If you were to refuse your lawyer to notify the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancing practitioner for your conveyancing in County Durham.
Do banks and building societies provide you with an approved list of County Durham conveyancing solicitors? How do you know who is on the Barclays conveyancing panel?
County Durham conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
I am assisting my sister sell her flat in County Durham. Will the solicitor arrange an energy assessment or should I organise this?
Following the abolition of HIPs, EPC’s was kept a required part of moving property. An energy assessment needs to be commissioned prior to the property being marketed. It is not a task that lawyers ordinarily organise. If you are instructing a County Durham conveyancing solicitor they may be able to arrange EPC’s due to their contacts with long established County Durham assessors
I have a mortgage with Coventry BS for my property in County Durham. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel firm.
I am selling my house. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Kent Reliance are being problematic. The County Durham solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Have completed on a a detached house in County Durham , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My County Durham conveyancing solicitor has been very slow, so I want to be sure that my ownership is registered.
As far as conveyancing in County Durham registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether there are errors and whether the Land registry need to notify any interested parties. At present approximately 80% of submission are fully dealt with in less than three weeks but some can be subject to longer delays. Registration is effected after the new owner is living at the premises thus registration formalities is not typically top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in County Durham differ for new build properties?
Most buyers of new build property in County Durham approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in County Durham usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in County Durham or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and found one round the corner in County Durham I like with amenity areas and station in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in County Durham suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.