Am I correct in assuming that the fact that my conveyancer in Cockermouth is not identified on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
That is most likely a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Cockermouth conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am selling my apartment in Cockermouth. Does the property lawyer need to be required to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
Should my solicitor be asking questions about flooding during the conveyancing in Cockermouth.
Flooding is a growing risk for conveyancers dealing with homes in Cockermouth. Some people will acquire a house in Cockermouth, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Cockermouth. The conventional set of completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the vendor to discover if the premises has suffered from flooding. In the event that the property has been flooded in past and is not disclosed by the seller, then a buyer could bring a compensation claim as a result of such an misleading answer. A buyer’s solicitors should also order an environmental report. This should indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
I am looking for a leasehold apartment up to £195,000 and found one near me in Cockermouth I like with open areas and station nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Cockermouth suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the remaining unexpired lease term will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I was pointed in your direction by two or three local estate agents in Cockermouth to get a quote from a property lawyer on your site. Is there a financial advantage for Estate Agents to offer your services ahead of another?
We refuse to offer any commission for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
What is the difference between surveying and conveyancing in Cockermouth?
Conveyancing - in Cockermouth or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the seller to remedy the problems prior to you move in.