Find a Cleator Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Cleator? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Cleator transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Cleator

I am buying property in Cleator. My property lawyer has never been on on the mortgage company approved panel. Can I still retain my Cleator conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel of approved conveyancing solicitors?

You will need to use a solicitor to deal with the legal work required when you need a loan to buy your home. They will carry out all the relevant legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. You could instruct a Cleator property lawyer of your choosing. However, if the solicitor appointed is not a member of the bank conveyancing panel additional costs will arise as separate legal representation will be need by the lender. Bank panel applications may be submitted, so if your lawyer has not historically sought membership they can do so.

I just bought a house at auction in Cleator. Conveyancing is required. What happens now?

Given that you are now exchanged you now have to appoint a conveyancing lawyer quickly as you will have a tight deadline in which to complete the property. All auction property will have a corresponding auction pack. This should include most,if not all of the paperwork that your lawyer will need. Where you are dealing with leasehold premises the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You should pass this on to the solicitor working for you at the earliest opportunity. Do make sure that you have funds in order to complete on the on the contractual date .

Last month we had a mortgage agreed in principle with Principality. Cleator conveyancing practitioners have been instructed. What is the average time that one could expect to receive a mortgage offer from Principality?

Some lenders take longer than others. Have Principality conducted the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

Principality have agreed my home loan in principle, my offer on a flat in Cleator has been agreed to, what are the next steps?

The estate agent will need to be advised as to your solicitor's details (be sure the property lawyers are on the bank’s panel). Telephone Principality or your financial adviser and finalise any appropriate paperwork. Principality will sellect a valuer who will get in touch with the selling agent or seller to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Principality will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cleator.

My wife and I purchased a terraced Georgian property in Cleator. Conveyancing lawyer acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same property. Is it worth asking Halifax to clarify?

You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cleator and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing practitioner who conducted the work.

How does conveyancing in Cleator differ for newly converted properties?

Most buyers of new build property in Cleator contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Cleator usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cleator or who has acted in the same development.

I am tempted by the attractive purchase price for a couple of flats in Cleator both have in the region of 50 years unexpired on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease deteriorates and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.

I invested in buying a leasehold flat in Cleator, conveyancing formalities finalised March 2003. Can you work out an approximate cost of a lease extension? Corresponding properties in Cleator with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2102

You have 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

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