I was told yesterday by my estate agent that my Monkseaton lawyer is not on the mortgage company Conveyancing panel. What can I do to check?
You need to call your Monkseaton conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
Is there a search tool that I can utilise to discover of the solicitor handling my conveyancing in Monkseaton is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus paying £192.00 in additional conveyancing costs.
Feel free to take advantage of the find a conveyancing panel solicitor tool on this page. Please choose the lender and type ‘Monkseaton’ or your location and you will see a number of lawyer offices in Monkseaton or by proximity to you.
Will our conveyancer be asking questions regarding flooding as part of the conveyancing in Monkseaton.
The risk of flooding is if increasing concern for solicitors dealing with homes in Monkseaton. Some people will acquire a house in Monkseaton, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a numerous checks that may be undertaken by the purchaser or by their conveyancers which should figure out the risks in Monkseaton. The conventional set of information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to determine whether the premises has ever been flooded. In the event that the property has been flooded in past and is not revealed by the vendor, then a purchaser may commence a compensation claim stemming from an incorrect reply. A buyer’s solicitors should also commission an enviro report. This will indicate if there is any known flood risk. If so, further investigations will need to be carried out.
I have recentlybecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in Monkseaton for a purchase of a leasehold apartment 12 months ago. How can I check that my home is not still registered in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Monkseaton conveyancing specialists.
I decided to have a survey done on a house in Monkseaton before appointing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies may refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Monkseaton. Conveyancing will be smoother if you use a solicitor in Monkseaton especially if they are familiar with such properties in Monkseaton.
Jane (my partner) and I may need to sub-let our Monkseaton basement flat temporarily due to a career opportunity. We instructed a Monkseaton conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
A lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Monkseaton do not prevent subletting altogether – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I invested in buying a 2 bed flat in Monkseaton, conveyancing having been completed 7 years ago. How much will my lease extension cost? Similar properties in Monkseaton with an extended lease are worth £190,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2087
With just 62 years left to run we estimate the price of your lease extension to span between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.