I can't travel far from Porthleven. I would like to know the logic why all Porthleven lawyers are not on all lender panels?
Pre- 2008 most banks exhibited an approach to risk which is different from today. The FSA in 2010 conducted a thematic review into property fraud which concluded: know the lawyers on your panel. Consequently, mortgage companies have since requiredmore information from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of law practices have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the criteria of amount of transactions the mortgage companies insisted on.
What does my ID and proof of funds have anything to do with my conveyancing in Porthleven? Why is this being asked of me?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Porthleven. However these days you will not be able to proceed with any conveyancing process in the absence handing over evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are providing your driving licence as evidence of ID it needs to be both the paper part as well as the photo card part, one is not satisfactory without the other.
Proof of the source of funds is required under Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancer will need to retain this information on file. Your Porthleven conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they will also ask additional queries regarding the source of monies.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Porthleven. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 25/10/2025, the requirements read as follows :
We are buying a apartment in Porthleven. I might seem paranoid but how we can trust a solicitor? On completion day we have to deposit funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My solicitor has informed me that absentee landlord insurance is necessary on my purchase. What is the level of cover for Porthleven conveyancing?
The appropriate level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such policies.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Porthleven building society branch on various occasions and was told they are content with the situation and they will lend. My Porthleven conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend in accordance with their published requirements. I simply don't know who is right.
The solicitor has to comply with the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need some fast conveyancing in Porthleven as I have a deadline to sign on the dotted line within 2 weeks. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no conveyancer would recommend that you don't. With plenty of history conveyancing in Porthleven the following are examples of what can crop up and therefore affect market value: Enforcement Notices, Overdue Charges, Overdue Grants, Railway Schemes,...
I am tempted by the attractive purchase price for a two maisonettes in Porthleven both have in the region of fifty years unexpired on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorates and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field.
I am the registered owner of a 1st floor flat in Porthleven, conveyancing having been completed 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? Similar flats in Porthleven with over 90 years remaining are worth £196,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2089
With only 64 years remaining on your lease we estimate the premium for your lease extension to span between £15,200 and £17,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.