I am buying a property without a mortgage in Durham. I have resided for the previous 20 years in Durham. Conveyancing searches are exorbitant. As I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Durham conveyancing searches are at your discretion. Your lawyer will 'advise', no-doubt strongly, that you should have searches completed, but she is duty bound to do this. One thing to consider; if you are going to sell the house in the future, it will be of importance to your prospective purchaser what the searches reveal. Sometimes houses with day to day issues can still show up unexpected search results. A competent conveyancing solicitor in Durham will be able to give you some constructive advice here.
Can you point me to a directory of Kent Reliance panel solicitors in Durham on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. A small selection of lenders make their panel listings open the public on the web. Where you are seeking to appoint a Durham solicitor on the Kent Reliance please make the most of our facility.
I have a mortgage with Nottingham for my property in Durham. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nottingham?
You must advise Nottingham prior to renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel lawyer.
After what feels like an age I have had an offer on an apartment in Durham agreed to, the owners do nevertheless have a dependent purchase. The owners have offered on a property, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have selected a nearby conveyancing solicitor in Durham. What do I do now? At what stage should I apply for the mortgage with Virgin Money?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Durham conveyancing search fees, etc). The first course of action is to check that your solicitor is on the Virgin Money conveyancing panel. Concerning the next phase this very much dictated by the circumstances of your case, desire for this property and on the state of the market. During a buoyant market many buyers will apply for a home loan with Virgin Money and pay for the valuation and only if it comes back ok would they ask their property lawyer to press on with searches.
Should commercial conveyancing searches reveal planned roadworks that may impact a commercial property in Durham?
Its becoming the norm that commercial conveyancing solicitors in Durham will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Durham. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Durham.
For every commercial conveyancing transaction in Durham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Durham commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Durham.
I have been on the look out for a leasehold apartment up to £245,000 and identified one close by in Durham I like with a park and transport links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Durham suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I am looking to sell my house. My former solicitors closed down. I am in need of a recommendation of a conveyancing firm. Im based in Durham if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Durham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
There are a number of houses in Durham on unadopted roads. My wife and I are acquiring such a house. Are there any advantages to buying a residence on a privately owned road?
Durham conveyancing practices will be used to conveyancing houseson unadopted roads. Your conveyancer will review the title to identify any rights or responsibilities. It is possible that there is a residents association that proprietors pay into to maintain the road. Where one exists, the road should be maintained and appear nicer than publicly owned.