I am selling my home in Cleator Moor and the EA has just text me to say that the buyers are appointing a new solicitor. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a leading lender only engage with specific lawyers rather the firm that they want to select for their conveyancing in Cleator Moor ?
UK lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
We are a couple about to exchange contracts for a semi detached house in Cleator Moor. We encountered a problem. Our loan offer with Coventry Building Society runs out on 28/11/2025 but the vendors are suggesting a completion date of 2/12/2025. Can one prolong the loan expiry date?
The person best placed to deal with your issue is your solicitors who is in a position to assess whether they better off negotiating with the bank, vendor’s representatives, selling agents or possibly all parties based on the history of your house move to date.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would much rather instruct a Cleator Moor based conveyancing firm?
You should check but the chances are that give you one of their panel solicitors if you accept the "fee-free" deal. Speak to the lender and see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Cleator Moor.
How does the Landlord & Tenant Act 1954 affect my commercial offices in Cleator Moor and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial leaseholders, granting the legal entitlement to make a request to court for a renewal lease and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Cleator Moor
I need to find a conveyancing solicitor for residential conveyancing in Cleator Moor. I have stumble across a web site which looks to be the ideal answer If it is possible to get all formalities completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am employed by a long established estate agent office in Cleator Moor where we have experienced a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Cleator Moor conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a 1 bedroom flat in Cleator Moor, conveyancing having been completed 3 years ago. How much will my lease extension cost? Corresponding properties in Cleator Moor with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2099
With only 74 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.