It is a dozen years since I purchased my house in Cramlington. Conveyancing lawyers have just been retained on the sale but I am unable to track down the title deeds. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be kept by the lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Cramlington involves registered property but in the unlikely event that your home is not registered it is more tricky but is resolvable.
I am considering applying for a Co-operative mortgage for purchase of a newly converted (under development) in Cramlington with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I am the single recipient of my late father’s will with all property in now in my sole name, including the house in Cramlington. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be considered the same way as though I had purchased the property in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view banks take of it, depend on the lender as this clause chiefly exists to identify the purchase and immediately sell or the quick reselling of properties.
We had chosen solicitors with offices in Cramlington on the Skipton solicitor approved list. They are now charging me a separate amount for handling the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer can charge a fee for this. The charge is not set by Skipton but by your Cramlington lawyer. Some firms on the Skipton panel will levy ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
My wife and I are spending time viewing apartments in Cramlington and I am about to put in an offer. Should I already have a conveyancer appointed at this stage? I will be getting a home loan with RBS.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I am buying a new build house in Cramlington with a loan from Barnsley Building Society. The developers would not move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my conveyancer about the side-deal as it will affect my loan with Barnsley Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it simple use your search tool to choose a conveyancing lawyer in Cramlington on the panel for my mortgage?
First select a lender such as Nationwide Building Society, Chelsea Building Society or Alliance & Leicester then type in your preferred area for instance Cramlington. Conveyancing firms in Cramlington and beyond should be shown.
Can you offer any advice when it comes to finding a Cramlington conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Cramlington conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Cramlington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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How many lease extensions have they conducted in Cramlington in the last twenty four months?
I bought a studio flat in Cramlington, conveyancing was carried out April 1998. Can you work out an approximate cost of a lease extension? Corresponding properties in Cramlington with a long lease are worth £201,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2089
With only 65 years remaining on your lease we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.