We wanted to use a conveyancing solicitor in Cornwall for our house purchase. Our financial adviser has since notified us that our mortgage company Virgin Money won't deal with them. Why is this not regarded as unduly restrictive?
Mortgage Companies tend to restrict either the type or the volume of conveyancing solicitors on their member panel. Typical examples of such restriction(s) being that a law practice must not be a sole practitioner. In addition to restricting the type of firm, a few banks have reduced the number of firms they allow to represent them. Be aware that Virgin Money have no responsibility for the quality of advice provided by any member of Virgin Money Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels since 2008 even though there are mixed views regarding the level of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that thousands of law firms, including some in or near Cornwall only execute very few conveyances per annum.
I am planning on selling our house in Cornwall and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street Cornwall lawyer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Cornwall. Having lived in Cornwall for six years we know of no issue. Do we get in touch with our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must 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)
Is it simple use your search app to find a conveyancing lawyer in Cornwall on the approved list for my mortgage?
1st pick a lender such as Barclays , Leeds Building Society or Godiva Mortgages Ltd then specify your location for instance Cornwall. Conveyancing firms in Cornwall and nationally will then be listed.
My husband and I are one month into a residential purchase having been referred to solicitors by the local agent to do our conveyancing in Cornwall. We are not happy. Could you help me find new solicitors?
A lawyer would have to be very poor in order to consider diss instructing them. Has your mortgage offer been generated? If so you will need to inform them of the new contact details and get the loan are re-sent. Your new solicitor ideally should be on the mortgage company panel to avoid supplemental costs and frustration. So that should be your starting point. The find a solicitor tool should assist you in finding a lender approved conveyancer for your conveyancing in Cornwall
I am looking at a two apartments in Cornwall which have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Cornwall is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cornwall conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a split level flat in Cornwall, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Cornwall with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease expires on 21st October 2092
With just 67 years left to run the likely cost is going to be between £10,500 and £12,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account 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 without first seeking the advice of a professional.
Should one remove a deceased person's details from the title deeds for a house in Cornwall?
Where a Cornwall property is co-owned and one of the proprietors dies, their name will not automatically be removed from the Land Registry title. It is not necessary to amend the title as in the event of a disposal you would simply be required to evidence as to the reason the other owner is not a party to the conveyance, such as the probate documents.
With the aim of making the sale conveyancing simpler for the sale of the property you can arrange to have the deceased party erased from the title entries by applying to the land registry with proof of the death. There is no land registry fee payable.