My wife and I are hoping to buy a 3 bedroom apartment in Cumbria with a mortgage. We have a Cumbria solicitor, however the bank advise she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Cumbria conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Cumbria conveyancing lawyer to apply to be on the conveyancing panel.
I opted to have a survey done on a house in Cumbria in advance of retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies may not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cumbria. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cumbria to see if the conveyancing costs will increase in light of this.
What makes your site different to alternative online quote calculators when it comes to conveyancing in Cumbria?
At this site get a fixed fee quote from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Cumbria. Unlike many estate agents and many comparison sites we do not operate referral deals with solicitors. Many agents and online brokers 'recommend' the firm that pays the most kickback, rather than the best value conveyancing in Cumbria
Am I best advised to choose a Cumbria conveyancing lawyer in close proximity to the house I am buying? We have a good friend who can deal with the legal formalities but his firm is located a couple of hundredmiles drive away.
The benefit of a local Cumbria conveyancing practice is that you can pop in to sign paperwork, deliver your identification documents and apply pressure on them if necessary. They will also have local insight which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and in the main were content that must surpass using an unfamiliar Cumbria conveyancing lawyer just because they are local.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Cumbria. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Cumbria ?
The majority of houses in Cumbria are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Cumbria in which case you should be looking for a Cumbria conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.
Leasehold Conveyancing in Cumbria - A selection of Queries Prior to buying
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It would be wise to enquire if the the lease includes any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Cumbria. If you like the flatin Cumbria yet your dog can’t make the move with you then you have a very hard determination. The best form of lease structure is if the freehold interest is owned by the leaseholders. In this situation the tenants enjoy control and notwithstanding that a managing agent is often employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. Who manages the block?
I have today placed an offer on a leasehold flat in Cumbria and the estate agent that we are dealing with recommended his lawyer. They quoted nine hundred pounds excluding VAT and 3rd party costs. Does this sound reasonable?
You should not rely on 1 quote. One should seek like-for-like quotes for your conveyancing in Cumbria. Then pick one that you are comfortable with and crucially, is on the approved list of the lender that you are sourcing your mortgage from.