We are acquiring a brand new flat in South Shields and my lawyer is advising me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to exchange and I don't want to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a list of Yorkshire BS panel solicitors in South Shields on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings available over the internet. Where you are seeking to appoint a South Shields conveyancer on the Yorkshire BS please make the most of our facility.
How can we tell if a South Shields conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in South Shields obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor handling your transaction.
The formalities of my purchase has taken place for my property in South Shields. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
The deeds to my home can not be found. The lawyers who conducted the conveyancing in South Shields 5 years ago no longer exist. What are my options?
These day there are duplicates made of almost everything, and your conveyancer will be aware exactly where to find all the relevant paperwork so you can purchase or sell your property without a hitch. Where duplicates can’t be found, your conveyancer can put in place insurance or indemnities protecting you against future claims on your premises.
My father-in-law has suggested that I use his lawyers for conveyancing in South Shields. Should I use them?
There are no two ways about it the best way to choose a conveyancing solicitor is to get guidance from friends or family who have actually used the firm that you are considering.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in South Shields. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in South Shields are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in South Shields in which case you should be shopping around for a South Shields conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.
I inherited a 1 bedroom flat in South Shields, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in South Shields with an extended lease are worth £190,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2086
With only 61 years left to run the likely cost is going to be between £19,000 and £22,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should 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. Please do not take any other action based on this information without first seeking the advice of a professional.