Why do I have to pay up front when it comes to conveyancing in North Shields?
If you are buying a property in North Shields your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the sale price then this will be asked for immediately prior to exchange of contracts. The final balance that is needed should be transferred shortly before completion.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a residence in North Shields? or I am told that there is an ancient law that means some owners of property residing in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this relevant for conveyancing in North Shields?
Unless a previous purchase of the house took place post 12 October 2013 you may take it that lawyers delivering conveyancing in North Shields to remain recommending a chancel search and or insurance against a claim.
I used Action Conveyancing a few years past for my conveyancing in North Shields. Now, I need my documents however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in North Shields of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build flat in North Shields. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in North Shields
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. North Shields is where the house is located. Can you offer any advice?
Flying freeholds in North Shields are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside North Shields you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Shields 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.
Do you have any top tips for leasehold conveyancing in North Shields from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in North Shields can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in North Shields state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. Should you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor in the first instance. A minority of North Shields leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
I acquired a ground floor flat in North Shields, conveyancing having been completed in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in North Shields with a long lease are worth £211,000. The ground rent is £50 per annum. The lease finishes on 21st October 2093
With 68 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.