I am need of leasehold conveyancing for an apartment in a relatively new development (seven years built) in Crook. Almost all the flats have already been disposed of. Is it really necessary to order local searches as part of conveyancing in Crook?
You would be putting yourself at risk in failing carrying out Crook conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. Where accelerating the process and driving down costs are top of your issues you should discuss with your lawyer about the options such as lack of search insurance available to you
Finally the sale completed on my house in Crook last May yet the purchaser is texting every few hours complaining that her solicitor needs to hear from mysolicitor. What are the post completion sale formalities now that I have sold?
After completion of your house sale your lawyer should deliver the transfer documentation and all additional paperwork to the buyer’s conveyancer. Depending on the transaction, your solicitor must also evidence that the home loan has been redeemed to the buyers solicitors. There are no post completion formalities specific conveyancing in Crook.
We are getting the release of further monies on our mortgage from Nationwide as we wish to carry out renovations to our property in Crook. Are we obliged to select a high street Crook solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide do not ordinarily appoint a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
I am currently in the process of buying my council flat in Crook. I have a mortgage offer with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I can not work out if my bank requires a lease extension. I have called into my local Crook building society branch on various occasions and was told they are content with the situation and they would lend. My Crook conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancer is on the bank panel, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am purchasing my first flat in Crook with a loan from Santander. The builders would not budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about this side-deal as it may affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
I opted to have a survey completed on a house in Crook prior to retaining lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks tend not grant a loan on this type of premises.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Crook. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Crook to see if the conveyancing costs will increase in light of this.
Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Crook. I need to get lease extension but my landlord is can not be found. What are my options?
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 extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations a specialist would be helpful to conduct investigations and to produce a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Crook.
I am the registered owner of a 1st floor flat in Crook, conveyancing formalities finalised 9 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 properties in Crook with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2079
With just 55 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be 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 based on this information without first getting professional advice.