The mortgage agreement from NatWest for the refinancing of my 2 room garden flat is coming any day now. Are you able to put forward a low cost conveyancing solicitor in County Durham?
You are on the wrong site if you are seeking cut-price fees for conveyancing in County Durham. Our goal is to offer excellent value conveyancing but our intention is not to work with the cheapest lawyers. Do not be swayed by companies offering £99 conveyancing in County Durham. The optimum outcome, in choosing a lawyer for cheap conveyancing, you will receive what you pay for and at worst you will end up invoiced for additional fees and still not get the service expected.
My son is purchasing a house that has just been built in County Durham with a home loan from Santander. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold property in County Durham but still pay rent, why is this and what is this?
It’s unusual for properties in County Durham and has limited impact for conveyancing in County Durham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in County Durham I like with a park and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in County Durham for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I only have 62 years unexpired on my lease in County Durham. I need to get lease extension but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the landlord. In some cases a specialist may be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing County Durham.
County Durham Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
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It is important to be aware whether fixing the lift or some other major work is coming up to be shared between the leasehold owners and will materially impact the level of the service fees or necessitate a specific invoice. Be sure to find out if there is anything that is prohibited in the lease. By way of example it is very common in County Durham leases that pets are not allowed in certain buildings in County Durham. If you like the propertyin County Durham yet your dog can’t move with you then you will be faced difficult choice. How many of the leaseholders are in arrears for their maintenance charge payments?
What type of property do your County Durham conveyancing estimates relate to?
Our conveyancing quotes are only relevant to standard residential homes in England & Wales. If you have any different needs for instance industrial or agricultural property or commercial conveyancing in County Durham please contact us to discuss your requirements .