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Find a Cornwall Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Cornwall conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Cornwall

Finally the sale completed on my house in Cornwall last September but our buyer keeps e-mailing every few hours complaining that his solicitor is waiting to hear from mylawyer. What are the post completion sale legalities now that I have sold?

Post completion of your sale your lawyer is committed to forward the transfer deeds and all additional paperwork to the buyer’s solicitors. Depending on the transaction, your lawyer must also confirm that the home loan has been discharged to the purchasers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Cornwall.

I am about to put a bid on a leasehold property in Cornwall. The estate agents say that it is usual for flats in Cornwall to have less than 75 years remaining. I am expecting a loan with The Mortgage Works. Will the property be mortgageable given that the lease has 72 years to go.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/1/2021 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term.
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:

Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer

New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer

Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term less than 70 years
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period less than or equal to 5 years

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 0.5% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term greater than 85 years
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house
- Starting Ground Rent greater than 0.1% of the property value
- Ground Rent review period less than or equal to 5 years
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Ground Rent is linked to any indices greater than RPI
- Ground Rent is linked to the value of the building*
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 0.5% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- Starting Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than 5 years
- Ground Rent escalation less than or equal to RPI

* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years

Does a directory service exist listing Aldermore panel conveyancers in Cornwall on the Building Society Association’s Website?

Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. Very few lending institutions make their panel listings open the public online. Where you are seeking to appoint a Cornwall lawyer on the Aldermore please use our tool.

We had instructed conveyancing lawyers located in Cornwall on the Yorkshire BS solicitor approved list. They are now charging me a separate fee for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?

As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your lawyer may charge a fee for this. This charge is not set by Yorkshire BS but by your Cornwall conveyancing practitioner. Plenty of firms on the Yorkshire BS panel will charge an ‘acting for lender’ fee but plenty of practices include it on their overall fee.

UBS have agreed my mortgage in principle, my bid on a property in Cornwall has been agreed to, what happens next?

The estate agent will wish to be informed of your conveyancing practitioner's details (be sure the conveyancing practitioners are on the lender’s panel). Telephone UBS or your financial adviser and finalise any relevant forms. UBS will sellect a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. UBS will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cornwall.

I'm converting the mortgage on my current property to a buy to let loan with Halifax and I will use the ballance of the raised equity towards further property. The area we are talking about is Cornwall. Will your lawyers be able to act for the two banks and tie in the two deals?

Do use our search tool on this page to ensure that the solicitors are approved by both banks. Having checked that they are your solicitor should be able to tie up the two deals but you should have a chat with you solicitor and specify your expectations and needs.

My in 2005. He has been married, widowed and in recent months got married again. He now wants to the sell the Cornwall property. I believe he will simply be need to provide a copy of the marriage certificates to the conveyancing practitioner however he is anxious it will frustrate the conveyancing. Is it worth updating the title information for the property?

You are not required to update the title for the property providing you have the proof required to demonstrate how the name change occurred.

Any buyer’s solicitor should check the title details and require evidence by way of proof of the name change e.g. marriage certificates.

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