I have just started taking steps with a view to switching my domestic home loan to a BTL Bank of Ireland mortgage. The bank has said that I need a conveyancer as part of the process. I got in contact with my former Wallsend conveyancing solicitor who acted on my behalf when I originally purchased the house. The fee calculation issued of £575 plus disbursements is an eye-watering amount to do this as its a remortgage than a sale or purchase.
The quote is fractionally on the steep side. If you shop around you may be able to trim some of the expense by perhaps £100 plus VAT. That being said, providing that you were satisfied with the assistance the firm provided you couldlive to rue choosing an an unknown conveyancer. Remember to check the conveyancer can act for Bank of Ireland. You can employ our search tool to get a quote a Wallsend conveyancing firm on the Bank of Ireland approved list of lawyers, which can often include conveyancing solicitors in Wallsend.
It is 10 years ago since I acquired my home in Wallsend. Conveyancing lawyers have just been retained on the sale but I am unable to find the deeds. Will this cause complications?
You need not be too concerned. Firstly there is a chance that the deeds will be with your mortgage company or they could be in the possession of the conveyancers who acted in the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Wallsend relates to registered property but in the rare situation where your home is unregistered it is more tricky but is not insurmountable.
My wife and I purchasing a 4 bedroom semi-detached house in Wallsend. We would like to carry out an extension to the side at the house.Will the conveyancing process include checks to ascertain if these alterations are allowed?
Your property lawyer should check the registered title as conveyancing in Wallsend will on occasion reveal restrictions in the title deeds which prevent certain works or necessitated the consent of a 3rd party. Certain extensions need local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Wallsend solicitor on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
It is not clear whether my mortgage offer requires a lease extension. I have called my Wallsend building society branch on numerous occasions and was informed it wasn't an issue and they will lend. My Wallsend conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the conveyancer is on the lender panel, they must follow the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I'm purchasing my first flat in Wallsend with a loan from Lloyds TSB Bank. The sellers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not disclose to my conveyancer about the deal as it may affect my loan with the lender. 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 only have Sixty One years unexpired on my lease in Wallsend. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent may be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Wallsend.
I own a 2 bed flat in Wallsend, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Wallsend with an extended lease are worth £165,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2102
You have 77 years left to run we estimate the price of your lease extension to be between £7,600 and £8,800 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Our conveyancing in Wallsend is completing next Friday, however the vendors I am purchasing off wishes to vacate 24 hours later at noon. Can I accept this?
You can't complete on a Saturday because the bank systems are not working.