Finally, a mortgage offer from Nationwide for the remortgage of my 4 room apartment is expected imminently. Are you able to suggest a cheap conveyancing solicitor in Durham?
You have come to the wrong place to search for the cheapest conveyancing in Durham. Our aim is to provide cost effective conveyancing but we do not aim to advertise as being the cheapest. Do not be fooled by companies offering £100 conveyancing in Durham. At best, in deciding on low cost conveyancing, you will receive what you pay for and at worst it will result in you invoiced for extras and still not end up with the service required.
The owners of the house we are looking to purchase have appointed a conveyancing practitioner in Durham who has recommended a lock out agreement with a non-refundable deposit two thousand pounds. Are such agreements sensible?
This kind of contract isn't frequently used in Durham, conveyancers will often sway clients away from them as they detract from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. Furthermore, there is no assurance that just because the vendor has entered into an exclusivity contract they will complete the sale with you. They may be in contravention of the contract if they are offered a large enough offer to do so because an aggrieved claimant with the benefit of a lockout agreement will still be obliged show losses as a consequence of the breach and this may not equalise the extra amount that your vendor may obtain by breaching the agreement, no matter how morally unworthy it undoubtedly is.
Is it the case that all Durham solicitor practices on the RBS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the RBS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
My husband and I have arranged a further advance on our mortgage from Coventry BS as we intend to carry out renovations to our house in Durham. Are we obliged to appoint a local Durham solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS don't usually instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
The formalities of my remortgage has taken place for my property in Durham. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Are there restrictive covenants that are commonly picked up during conveyancing in Durham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Durham. 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…’
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Durham I like with a park and railway links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Durham for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 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 existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Back In 2004, I bought a leasehold flat in Durham. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Durham who acted for me is not around. What should I do?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Durham conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a leasehold flat in Durham, conveyancing having been completed May 2012. How much will my lease extension cost? Corresponding flats in Durham with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2088
With only 63 years remaining on your lease the likely cost is going to range between £16,200 and £18,600 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.