I can't travel far from Workington. Can you please spell out why all Workington solicitors are not on all mortgage company panels?
Even though it may seem unfair for banks to restrict who can represent them, from the public’s or conveyancer’s point of view, the the contrary view is that lending institutions are increasingly anxious and consider it essential to shield themselves from illegal activities. As a result of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
We note that you have a post code search directory listing law firms on the Nationwide conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Workington?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Workington.
I am considering applying for a Yorkshire BS mortgage for purchase of a new build (under development) in Workington with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Am I right to be suspicious by brokers that I am dealing with are recommending a nationwide conveyancing firm as opposed to a High Street Workington conveyancing company?
As with lots of service providers, often recommendations from relatives can be extremely useful or valuable. Yet there are lots of parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to use. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but occasionally there might be a financial incentive behind the endorsement. You are free to select your own conveyancer. Don't forget that some mortgage providers operate an approved list of conveyancers you are obliged to use for the lender aspect of your home move.
What advice can you give us when it comes to finding a Workington conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Workington conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Workington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
-
If the firm is not ALEP accredited then what is the reason? How many lease extensions have they carried out in Workington in the last twenty four months?
I acquired a 1 bedroom flat in Workington, conveyancing formalities finalised in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Workington with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2086
With 62 years unexpired we estimate the premium for your lease extension to span between £17,100 and £19,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. 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 before getting professional advice.
Please can you refer me to a lawyer for purchasing a bungalow? Ideally someone in Workington, who will contact me via email - not someone who insists on a letter in the post or fax.
The purpose of this site is limited to being a directory service for lawyers who wish to be listed as being on the approved conveyancing panel for Nationwide in certain areas such as Workington . We dont recommend any specific property lawyer.