My fiance and I are intent on purchasing property in Ferryhill. My Conveyancer is not listed on the bank solicitor panel. Am I still permitted to use my Ferryhill conveyancing solicitor notwithstanding that they are not on the bank list of approved lawyers?
You have a couple of options open to you here
- Proceed with your existing Ferryhill lawyer but your bank will need to instruct a conveyancing practitioner from their conveyancing panel. This will result in additional cost and probable frustration.
- Appoint a fresh property lawyer to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Convince your property lawyer to pull out all the stops to get listed on the mortgage company panel of solicitors
Can your site be used to recommend a Conveyancing solicitor in Ferryhill even if I’m not purchasing or selling a house, for example where I intend to buy an office in Ferryhill with a mortgage from Nottingham Building Society?
Our comparison service is predominantly utilised to select domestic conveyancing solicitors in Ferryhill but we have recorded towards the end of this page a selection of Ferryhill commercial conveyancing firms. You will need to speak with the solicitors directly to establish if they are also authorised to represent Nottingham Building Society
My grandmother passed away last year and as sole heir and executor I was left the house in Ferryhill. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
Where you intend to refinance then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Ferryhill is where the house is located. Can you offer any advice?
Flying freeholds in Ferryhill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ferryhill you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ferryhill may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Can you provide any top tips for leasehold conveyancing in Ferryhill with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Ferryhill can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers’ representatives. Many freeholders or Management Companies in Ferryhill levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Ferryhill. If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled. You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming formality and slows down many a Ferryhill conveyancing deal. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
Leasehold Conveyancing in Ferryhill - Examples of Questions you should ask before buying
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Best to be warned whether changing the roof or some other significant cost is due shortly that will be shared by the leaseholders and may well materially increase the the maintenance fees or require a specific payment. How long is the Lease? How many of the leaseholders are in arrears for their maintenance charge payments?
I have finally had an offer on an maisonette in Ferryhill accepted, the vendor does however have a connected purchase. The sellers have put an offer on a property, although it’s not yet tied up, and has viewings of other properties in the pipeline. I have selected a nearby conveyancing solicitor in Ferryhill. What do I do now? At what stage do I apply for the mortgage with Bank of Ireland?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of one thousand pounds, then valuation, Ferryhill conveyancing search charges, etc). The first thing to do is check that your lawyer is on the Bank of Ireland approved list. Regarding the next stages this very much depends on the uniqueness of your case, desire for the property and on the state of the market. In a rising market some home buyers will apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their conveyancer to move forward with the conveyancing in Ferryhill.