My wife and I are looking to acquire a home in Hartlepool and have instructed a Hartlepool conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barclays have this morning contacted us to inform me that there is now an issue as our Hartlepool solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Hartlepool lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Do I have to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Hartlepool so that I can attend their offices if required.
Nowadays conveyancing panel lawyers for banks conduct their communications through Royal Mail, e-mail or over phone calls. This enables them to undertake the conveyancing transaction no matter where you live in England or Wales. Nevertheless you should check if you have the option of going to the offices of your conveyancing lawyer if you prefer.
We are close to exchanging contracts on the sale of our home in Hartlepool and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Hartlepool. We have lived in Hartlepool for six years we know that this is a non issue. Do we get in touch with our local Authority to get confirmation need.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should 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 sickness)
What does commercial conveyancing in Hartlepool cover?
Hartlepool conveyancing for business premises covers a wide range of guidance, offered by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Due to exchange soon on a basement flat in Hartlepool. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hartlepool should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? The length of the lease term. You should receive guidance as what happens when the lease expires, and aware of the importance of the 80 year mark You should have a good understanding of the insurance requirements if lease caters for for a sinking fund? Information as to the provision in the lease to pay service charges - with regard to both the building, and the wider rights a leaseholder enjoys
I bought a 1 bedroom flat in Hartlepool, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Hartlepool with an extended lease are worth £201,000. The ground rent is £45 yearly. The lease expires on 21st October 2088
You have 64 years unexpired we estimate the premium for your lease extension to range between £15,200 and £17,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.