We are purchasing a newly built duplex in Shildon and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the developer. I am under pressure to exchange contracts and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Shildon is where the house is located. Can you offer any opinion?
Flying freeholds in Shildon are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Shildon you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shildon may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Hoping to buy a property located in Shildon and I am already nervous. I couldn't find anything specific about Shildon. Conveyancing will be needed in due course but do you know about the Shildon area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Shildon. In the meantime here are some basic statistics that we found
I am looking for a conveyancing practitioner in Shildon for my house move. Is it possible to see a firm’s complaints history with the legal regulator?
Members of the public may review published Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.
Having checked my lease I have discovered that there are only 62 years unexpired on my lease in Shildon. I am keen to extend my lease but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the landlord. On the whole an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Shildon.
I acquired a 2 bed flat in Shildon, conveyancing was carried out in 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Shildon with over 90 years remaining are worth £180,000. The ground rent is £65 levied per year. The lease ends on 21st October 2083
With only 58 years unexpired we estimate the price of your lease extension to be between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns 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 placing reliance on this information before seeking the advice of a professional.