I had a mortgage agreed in principle with Yorkshire BS. Cockermouth conveyancing practitioners are appointed. How long does it take for Yorkshire BS to send the offer to the conveyancer?
There is no definitive answer here. Have Yorkshire BS completed the survey? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I can not fathom if my lender requires a lease extension. I have called my Cockermouth bank branch on numerous occasions and was told they are content with the situation and they would lend. My Cockermouth conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. I simply don't know who is right.
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my apartment. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Co-operative are being pedantic. The Cockermouth solicitor who is on the Co-operative conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I used Wolstenholmes a few years ago for my conveyancing in Cockermouth. I now require my papers but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cockermouth of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Cockermouth is the location of the property. Can you offer any opinion?
Flying freeholds in Cockermouth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cockermouth you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cockermouth may ascertain 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.
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I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Cockermouth. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Cockermouth are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Cockermouth in which case you should be looking for a Cockermouth conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
I inherited a split level flat in Cockermouth, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Cockermouth with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease ends on 21st October 2078
You have 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
My sealed bid on semi in Cockermouth was agreed to, the seller does nevertheless have a dependent purchase. The current proprietors have offered on on an apartment, but it’s not yet agreed to, and has viewings of other properties in the pipeline. I have chosen a nearby conveyancing solicitor in Cockermouth. What do I do now? When do I get the mortgage application with Barclays started with Barclays?
It is normal to have anxieties where there is an associated chain given your reluctance to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Cockermouth conveyancing search charges, etc). The first thing to do is ensure that your conveyancer is on the Barclays conveyancing panel. Regarding the subsequent phase this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. During a rising market many purchasers will apply for a home loan with Barclays and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with searches.