We are planning to acquire a flat and require a conveyancing solicitor in Shiremoor who is on the HSBC conveyancing panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for HSBC . We don't recommend any particular firms conducting conveyancing in Shiremoor.
Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a garden flat in Shiremoor. Do I pick up the keys to the house on completion from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Shiremoor?
On the day of completion you will not be required to go to the conveyancers office in Shiremoor. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am being told by my lawyer that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Shiremoor?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being a right pain. The Shiremoor solicitor who is on the Nottingham conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
A colleague recommended that where I am buying in Shiremoor I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Shiremoor conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Shiremoor around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Shiremoor Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Shiremoor Education with plans and statistics, Local Amenities and other useful information concerning Shiremoor.
How can the Landlord & Tenant Act 1954 impact my business offices in Shiremoor and how can you help?
The particular law that you refer to provides security of tenure to commercial leaseholders, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Shiremoor
Am I best advised to appoint a Shiremoor conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can carry out the legal formalities however his firm is located 300kilometers away.
The primary upside of using a local Shiremoor conveyancing firm is that you can attend the office to sign documents, deliver your identification documents and apply pressure on them where appropriate. Having local Shiremoor know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and they were content that should outweigh using an unfamiliar Shiremoor conveyancing solicitor solely due to them being based in the area.
I am tempted by the attractive purchase price for a two maisonettes in Shiremoor both have in the region of forty five years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Shiremoor. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area.
I inherited a 1 bedroom flat in Shiremoor, conveyancing formalities finalised in 2012. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Shiremoor with a long lease are worth £186,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2077
You have 52 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.