Is there a reason why leasehold purchase conveyancing in Amble costs more?

In summary, leasehold conveyancing in Amble and elsewhere usually warrants more due diligence compared to freehold transactions. This includes checking the lease terms, liaising with the landlord concerning serving appropriate notices, obtaining up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.

I am purchasing a property in Amble. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?

As you are obtaining a mortgage with Virgin Money your lawyer must follow the conveyancing requirements set out in Part two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease does not meet these provisions. The requirements relate to the installation of panels on properties nationwide and is not isolated to Amble.

I have a mortgage with RBS for my property in Amble. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?

Your original mortgage agreement with RBS will provide that you need their approval before letting out your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. You need not do this via a RBS conveyancing panel solicitor.

It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Amble building society branch on numerous occasions and was told it wasn't a problem and they would lend. My Amble conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their specific requirements. I have no idea who is right.

Provided that the solicitor is on the lender panel, they must comply with the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.

I am downsizing from our house in Amble and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing practice as opposed to a conveyancing solicitor in Amble. Having lived in Amble for six years we know that this is a non issue. Do we contact our local Authority to obtain confirmation need.

It sounds as though you may have a conveyancing lawyer already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)

We're new on the property ladder - agreed a price, but the estate agent advised that the vendor will only issue a contract if we instruct the agent's recommended conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Amble

It is improbable the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is counter productive. Speak to the vendors direct and explain that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Amble conveyancing lawyers - rather thanthe ones that will give their estate agent a referral fee or hit his conveyancing thresholds pre-set by head office.

What advice can you give us when it comes to choosing a Amble conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Amble conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Amble conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:

How experienced is the firm with lease extension legislation? What are the costs for lease extension work?

Leasehold Conveyancing in Amble - Examples of Queries before buying

Where a Amble lease has fewer than eighty years it will affect the salability of the flat. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will most likely require a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you will need to own the premises for two years before you are legally able to extend the lease. Who takes responsibility for maintaining and repairing the building? How much is the service charge and ground rent on the property?