My wife and I are looking to purchase a home in Cleator and have instructed a Cleator conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Virgin Money have this morning contacted us to inform me that there is now an issue as our Cleator conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Cleator lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
The Cleator conveyancing firm handling our Cleator conveyancing has discovered a difference when comparing the surveyor’s assumptions in the home valuation survey and what is in the title deeds. My lawyer has advised that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My father advised me that in purchasing a property in Cleator there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Cleator which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Cleator should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
The formalities of my remortgage has taken place for my property in Cleator. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
My offer was accepted on a house in Cleator on 10/5/2022, valuation was booked 4 days later, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Are RBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am selling our home in Cleator and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the purchasers are using a factory type conveyancing practice as opposed to a conveyancing solicitor in Cleator. We have lived in Cleator for six years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
In relation to leasehold conveyancing in Cleator what are the most common lease defects?
Leasehold conveyancing in Cleator is not unique. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
Clauses dealing with recovering service charges for expenditure on the building or common parts. Repairing obligations to or maintain elements of the premises
You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and TSB 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.
Leasehold Conveyancing in Cleator - Examples of Questions you should ask Prior to Purchasing
Many Cleator leasehold flats will have a service bill for maintenance of the block levied by the management company. Where you purchase the flat you will have to pay this charge, normally periodically throughout the year. This could vary from several hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a ground rent for you to pay annual, normally this is not a large amount, say about £50-£100 but you need to enquire as on occasion it could be prohibitively expensive. Generally speaking the outlay for major works tend not to be built into the maintenance charges, albeit that a few managing agents in Cleator obliged tenants to contribute towards a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance. Be sure to discover if the the lease contains any onerous restrictions in the lease. By way of example it is very common in Cleator leases that pets are not permitted in certain buildings in Cleator. If you love the propertyin Cleator but your cat is not allowed to make the move with you then you have a very difficult choice.