I am not in a position to travel far from Runcorn. Is there a reason why all Runcorn conveyancers aren't included on all mortgage company panels?
Pre- 2008 most banks demonstrated an approach to risk which is different than today. The Financial Services Authority in 2010 carried out a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, banks have since soughtmore data from law firms about their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have been removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of amount of transactions the mortgage companies insisted on.
How up to date is your database of Runcorn solicitors on the Kent Reliance conveyancing panel? Do Kent Reliance send you an updated list?
Runcorn conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would prefer to appoint a Runcorn based conveyancing firm?
Do check but the the probability is that appoint one of their panel conveyancers should you accept the "fee-free" deal. Call the bank to ask if they make available a cash alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Runcorn.
How can we tell if a Runcorn conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Runcorn getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction.
I had a mortgage agreed in principle with Skipton. Runcorn conveyancing lawyers are selected. What is the average time that one could expect to receive a mortgage offer from Skipton?
There is no definitive answer here. Have Skipton conducted the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We have agreed to purchase a house in Runcorn. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
Given that your lender is Virgin Money your lawyer must comply with the conveyancing requirements set out in Section two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to Virgin Money where a lease fails to meet these requirements. The specifications relate to the installation of panels on properties nationwide and is not restricted to Runcorn.
I'm remortgaging my existing property to a buy to let mortgage with Santander and I will use the ballance of the raised equity towards another house. The location we are looking at is Runcorn. Will your solicitors be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our comparison tool on this page to be sure that the solicitors are on the appropriate lender panels. Assuming that they are your lawyer should be able to tie up the two conveyancing matters but you should talk with you lawyer and communicate your expectations and needs.
What makes a Runcorn lease unacceptable for security purposes?
Leasehold conveyancing in Runcorn is not unique. All leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
-
Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I invested in buying a basement flat in Runcorn, conveyancing formalities finalised in 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Runcorn with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2094
With only 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.