Do the Building Society Association intend to launch a searchable register to list solicitors on the Norwich and Peterborough Building Society conveyancing panel for instance in Cumbria?
We would not expect to be advised of any intention on the part of the BSA to develop such a tool.
When it comes to lenders such as Virgin Money, do Cumbria lawyers incur a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am buying a property in Cumbria. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As your lender is Bank of Ireland your lawyer must comply with the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Bank of Ireland where a lease does not meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Cumbria.
After much negotiation I have agreed a price on an apartment in Cumbria. My financial adviser recommended their conveyancers. I paid an upfront payment of £200. A few days later, the property lawyer contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Cumbria differ for new build properties?
Most buyers of new build or newly converted property in Cumbria approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because builders in Cumbria typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cumbria or who has acted in the same development.
My husband and I are FTB’s - agreed a price, yet the property agent told us that the owners will only go ahead if we use their recommended solicitors as they are insisting on a ‘quick sale’. We would rather use a family solicitor used to conveyancing in Cumbria
We suspect that the seller is not behind this demand. Should the seller require ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Bypass the agents and go straight to the owners and make sure they comprehend that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to use your preferred Cumbria conveyancing lawyers - as opposed tothe ones that will give the estate agent a commission or achieve conveyancing figures demanded by HQ.
What makes a Cumbria lease unmortgageable?
Leasehold conveyancing in Cumbria is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
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Insurance obligations
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Skipton Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
Cumbria Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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Who takes responsibility for maintaining and repairing the block? The best form of lease structure is if the freehold title is owned by the leaseholders. In this situation the leaseholders have control and although a managing agent is usually employed if it is larger than a house conversion, the managing agent employed by the leaseholders. How long is the Lease?
What is the average conveyancing fee for conveyancing in Cumbria?
The average fee in 2014 for conveyancing in Cumbria was £1,395 excluding Stamp Duty and HM Land Registry fees.