I can't travel far from Wylam. What is the rationale as to why all Wylam conveyancing practitioners are not on all bank panels?

Lenders tend to impose restrictions on either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a practice is required to have two or more partners. As well as restricting the structure of firm, some building societies made a decision to reduce the number of organisations they allow to act for them. It is worth noting that building societies have no responsibility for the standard of conveyancing given by any Wylam solicitor on their approved list. Property fraud was the main trigger for the reduction of conveyancing panels a few years ago notwithstanding that there are differing opinions concerning the extent of solicitor involvement in some of that fraud. Data published by HM Land Registry reveal that thousands of law firms only transact a couple of conveyances a year. Those supporting conveyancing panel consolidation question why conveyancing firms deserve any entitlement to be listed on a conveyancing panel when clearly conveyancing is not their primary expertise?

AssumingI was to buy a straightforward homein Wylam for cash and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Wylam?

The only saving you would achieve is the costs for searches. Your conveyancing practitioner is required to do the vast majority of work - money laundering, communicating with your vendors conveyancing practitioner, stamp duty return, register the property etc. You might save a bit for them not having to register a charge but it won't be meaningful.

Over the last few months I have been searching for a flat up to £305k and found one near me in Wylam I like with open areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Wylam suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you require a mortgage that many years will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years 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 existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.

Back In 2003, I bought a leasehold house in Wylam. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Wylam who previously acted has long since retired. Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Wylam conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am the registered owner of a leasehold flat in Wylam, conveyancing having been completed May 1998. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Wylam with over 90 years remaining are worth £190,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 2086

With only 62 years unexpired we estimate the price of your lease extension to be between £17,100 and £19,800 as well as costs.

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 in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues 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 placing reliance on this information without first seeking the advice of a professional.

I acquired a house in Wylam last 13/10/2023 and to date it is still not recorded with HM Land Registry. It was part of a new estate and my property lawyer told me that it can take twelve months to complete the registration formalities. I have spoken with HMLR directly and they have informed me the initial application was cancelled due to questions not being addressed in time. What can I do?

Call your conveyancer - Where you are unsatisfied with the responses, find out about their firm’s complaints process and amplify your concerns to a Partner. Registrations for Wylam conveyancing are not known to be especially complex.