The sellers of the house we are purchasing hired a conveyancing practitioner in Stockton on Tees who has suggested a exclusivity contract with a payment of 5k. Are such arrangements recommended for Stockton on Tees conveyancing transactions?
There are a couple of main drawbacks with entering into any lock out agreement (sometimes known as a no-shop agreement) is that it takes away the focus from progressing with the conveyancing process, so unless it requires little or no negotiation then it may transpire to be unhelpful. It is not strongly advocated by Stockton on Tees conveyancing solicitors for this reason. The other main negative is the extent of the remedies available - a jilted purchaser should not expect to secure an injunctive ruling by a court to prevent the seller completing the sale to an alternative purchaser, so the only remedy open via the contract will be the recovery of abortive charges and, in rare scenarios, the extra payment of penalties.
I purchased my house on 3 August and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Stockton on Tees said it should be dealt with in less than a month. Are titles in Stockton on Tees uniquely lengthy to register?
As far as conveyancing in Stockton on Tees is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can adjust subject to who lodges the application, whether there are errors and whether the Land registry communicate with any other persons or bodies. Currently in the region of 80% of submission are completed within 12 days but some can be subject to protracted hold-ups. Registration occurs after the new owner has moved in to the premises thus 'speed' is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your solicitor can speak with the land registry and explain the circumstances.
I am buying a new build house in Stockton on Tees with the aid of help to buy. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not to tell my conveyancer about the deal as it would put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a house in Stockton on Tees before retaining lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will refuse to give a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Stockton on Tees. Conveyancing will be smoother if you use a solicitor in Stockton on Tees especially if they are acquainted with such properties in Stockton on Tees.
I need to find a conveyancing solicitor for freehold conveyancing in Stockton on Tees. I've discover a web site which seems to have the perfect answer If it is possible to get all this stuff done via email that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I want to rent out my leasehold apartment in Stockton on Tees. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Stockton on Tees conveyancing lawyer is no longer around you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to seek permission via your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior consent. The consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
I acquired a leasehold flat in Stockton on Tees, conveyancing having been completed in 1998. How much will my lease extension cost? Corresponding flats in Stockton on Tees with a long lease are worth £186,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2077
With 52 years left to run the likely cost is going to range between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns 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.