We were just about to sign contracts for a semi detached house in Staindrop. We have hit a stumbling block. Our loan offer with Norwich and Peterborough Building Society expires on 3/10/2025 but the owners are insisting on a completion date of 7/10/2025. Is it possible to extend the mortgage expiry date?
The person best placed to address this issue is your solicitors who should determine whether he or she is corresponding with the mortgage broker, owner’s solicitors, selling agents or possibly all parties given what has happend in your conveyancing to date.
My wife and I have a renovated Georgian house in Staindrop. Conveyancing practitioner acted for me and Barclays . I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Staindrop and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing practitioner who conducted the work.
About to purchase a new build apartment in Staindrop. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Staindrop
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Please confirm the Lease plans are surveyor prepared.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a simple, no chain conveyancing. Staindrop is the location of the property. What do you suggest?
Flying freeholds in Staindrop are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Staindrop you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Staindrop may determine 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 premises.
Back In 2007, I bought a leasehold flat in Staindrop. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Staindrop who previously acted has long since retired. Do I pay?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Staindrop conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a 1st floor flat in Staindrop, conveyancing was carried out 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Staindrop with a long lease are worth £260,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2099
With only 74 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed 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. Neither should you move forward based on this information before getting professional advice.
My husband and I are buying a studio flat in Staindrop. When we first instructed solicitor, they said that they were on all mainstream mortgage company panels. Our financial adviser contacted us just now to say that they don't appear to be on the Leeds Building Society approved list. Were it to be true, what should we do? Do we simply find a different property lawyer that is on their panel or should we cover the costs for dual representation, with Leeds Building Society appointing their own approved conveyancing practitioner.
Where you are purchasing a property with the assistance of a mortgage it is conventional for the buyer’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to meet. Some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your lawyer should call Leeds Building Society to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Leeds Building Society's conveyancing panel as you are at liberty to use your preferred Staindrop lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.