I am obtaining a mortgage offer from Nat West. I hope to use a Licensed Conveyancer in Stocksfield. Does the Nat West Solicitor panel allow for Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My wife and I have lately bought a property in Stocksfield. We have since encountered a number of issues with the house which we believe were overlooked in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been ordered as part of conveyancing in Stocksfield?
The query is not clear as what problems have arisen and if they are specific to conveyancing in Stocksfield. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the process, the vendor fills in a questionnaire called a SPIF. If the information turns out to be inaccurate, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Stocksfield.
We just had an offer accepted to buy with Darlington Building Society. We have called around locally but am unable to find a Stocksfield conveyancing firm on the Darlington Building Society approved list. Please you help?
Please do make use of the find a conveyancing panel solicitor tool on this page. Please choose the building society and type Stocksfield or your location and you will discover numerous solicitors located in Stocksfield or nearest you.
My partner has suggested that I appoint his lawyers for conveyancing in Stocksfield. Do I follow his advice?
Much as we are happy to recommend a Stocksfield conveyancing lawyer the ideal way to find a conveyancing lawyer is to have guidance from friends or family who have actually experience in using the solicitor that you are considering.
I work for a long established estate agency in Stocksfield where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Stocksfield conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a 1st floor flat in Stocksfield, conveyancing was carried out March 2002. How much will my lease extension cost? Equivalent flats in Stocksfield with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2081
With just 57 years unexpired we estimate the premium for your lease extension to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
There are plenty of properties in Stocksfield on unadopted roads. I am acquiring such a property. Are there any benefits to purchasing a property on a private road?
Stocksfield conveyancing solicitors are well versed in transacting homeson unadopted roads. The conveyancing practitioner should investigate Land Registry data to find any rights or liabilities. In many cases there is a residents association that proprietors make annual contributions to maintain the road. If there is one, the road should be maintained and appear better than council maintained.