This question may be naive but I am new to the home buying as a 1st time purchaser of a ground floor flat in Wallsend. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will use a local conveyancing solicitor in Wallsend?
On the day of completion you do not need to attend the conveyancers office in Wallsend. Conveyancing lawyers for you will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be called to collect the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
When it comes to mortgage companies such as Principality, do Wallsend conveyancing practitioners have to pay a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
My offer was accepted on an apartment in Wallsend on 26/9/2025, valuation was booked 2 days after, received a clean bill of health. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Clydesdale and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Clydesdale conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
Various internet forums that I have visited warn that are the main cause of obstruction in Wallsend house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Wallsend.
I am buying a new build house in Wallsend with a loan from Lloyds TSB Bank. The sellers refused to reduce the amount so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my lawyer about the extras as it will put at risk my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the guidance of my in-laws I had a survey completed on a house in Wallsend before appointing conveyancers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some banks tend refuse to give a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wallsend. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wallsend to see if the conveyancing will be more expensive.
I need to retain a conveyancing solicitor for leasehold conveyancing in Wallsend. I happened to discover a site which looks to be the ideal offering If it is possible to get all the legals done via web that would be preferable. Do I need to 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?
Can you provide any top tips for leasehold conveyancing in Wallsend with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Wallsend can be reduced if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers’ solicitors. You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you hold a share in a the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Wallsend conveyancing transaction. Where a reissued share is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. The majority of freeholders or managing agents in Wallsend levy fees for supplying management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Wallsend.
I am the registered owner of a ground floor flat in Wallsend, conveyancing having been completed March 2010. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Wallsend with an extended lease are worth £191,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2079
You have 54 years remaining on your lease we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.