Are the East Boldon conveyancing solicitors identified as being on the Aldermore conveyancing panel, together with their details provided by Aldermore?

East Boldon conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.

Should commercial conveyancing searches reveal planned roadworks that may impact a commercial land in East Boldon?

Many commercial conveyancing solicitors in East Boldon will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in East Boldon. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in East Boldon.

For every commercial conveyancing transaction in East Boldon it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to East Boldon commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in East Boldon.

Are there restrictive covenants that are commonly picked up as part of conveyancing in East Boldon?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in East Boldon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in East Boldon I like with amenity areas and station in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in East Boldon for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.

I want to rent out my leasehold flat in East Boldon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in East Boldon do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I bought a ground floor flat in East Boldon, conveyancing was carried out 6 years ago. How much will my lease extension cost? Comparable flats in East Boldon with over 90 years remaining are worth £222,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2096

With 70 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.