Our Cullercoats solicitor has spotted a discrepancy between the information in the home valuation report and what is in the title deeds. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?

Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Why do I have to pay up front for conveyancing in Cullercoats?

If you are buying a property in Cullercoats your lawyer will request that you place them with funds to cover the search fees. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is as part of the purchase price then this will be needed immediately ahead of contracts are exchanged. The closing balance that is due should be transferred shortly before completion.

Are the BSA planning on creating a search tool with a view to to identify solicitors on the Melton Mowbray Building Society conveyancing panel for instance in Cullercoats?

We have not been informed any intention on the part of the BSA to promote such a tool.

I have justdiscovered that Wolstenholmes have closed. They conducted my conveyancing in Cullercoats for a purchase of a leasehold apartment 10 months ago. How can I establish that my home is in my name in the name of the former proprietor?

The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Cullercoats conveyancing specialists.

All being well we will complete our sale of a £300,000 apartment in Cullercoats on Thursday in a week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Cullercoats?

For the majority of leasehold sales in Cullercoats conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

Addressing pre-contract questions Where consent is required before sale in Cullercoats Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Cullercoats leasehold premises is £350. For Cullercoats conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

Leasehold Conveyancing in Cullercoats - Sample of Queries before buying

The majority of Cullercoats leasehold apartments will have a service bill for maintenance of the block set by the landlord. Where you purchase the property you will have to pay this contribution, usually quarterly throughout the year. This could differ from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a large amount, say approximately £50-£100 but you should to enquire as on occasion it could be many hundreds of pounds. This information is important as a) areas may result in problems for the building as the communal areas may start to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to know about it Is anyone aware of any major works anticipated that will add a premium to the service charges?