We wanted to use a conveyancing solicitor in Corbridge for our house purchase. Our financial adviser has since notified us that our mortgage company Santander won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most banks had an appetite for risk which was higher than today. Almost all Corbridge conveyancing firms would have been on most bank panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms about their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Corbridge conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Corbridge is amongst the hundreds of locations where the solicitors showing on our search results are members of the panel for Santander.
I am selling our property in Corbridge and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Corbridge lawyer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing firm rather than a conveyancing solicitor in Corbridge. We have lived in Corbridge for many years we know that this is a non issue. Do we contact our local Authority to get confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with 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 illness)
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Corbridge is where the house is located. Is there any guidance you can impart?
Flying freeholds in Corbridge are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Corbridge you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Corbridge 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 property.
Am I right to be suspicious that brokers that I am dealing with are recommending an online conveyancing firm rather than a High Street Corbridge conveyancing firm?
As with lots of professional services, often recommendations from relatives can be extremely useful or valuable. Nevertheless there are many parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and banks may put forward lawyers to appoint. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You are at liberty to select your own lawyer. However, bear in mind that the majority of lenders specify a panel list of solicitors you must use for the mortgage aspect of your home move.
My brother has recommend that I appoint his conveyancers in Corbridge. Do I follow his guidance?
Much as we are happy to recommend a Corbridge conveyancing lawyer it’s preferable to select a conveyancing solicitor is to seek recommendations from friends or relatives who have previously instructed the firm that you are contemplating using.
Having had my offer accepted I require leasehold conveyancing in Corbridge. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and most are in Corbridge - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a leasehold flat in Corbridge, conveyancing having been completed in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Corbridge with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2080
With 55 years unexpired the likely cost is going to be between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues 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 without first getting professional advice.