My husband and I are hoping to acquire a property in Cornwall and have instructed a Cornwall conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. National Westminster Bank have this morning contacted us to advise us that they have now hit a problem as our Cornwall lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. 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 Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Cornwall lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Would the conveyancing solicitors that you recommend handle right to buy conveyancing in Cornwall?
We work with numerous conveyancing firms carrying out right to buy transactions You should contact the lawyers listed to get a costs calculation.
How can we tell if a Cornwall conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Cornwall seeking recommendations is a sensible start. 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 advertising the lowest fees. We would always suggest that you speak with the lawyer handling your transaction.
We are getting the release of further monies on our mortgage from Leeds Building Society as we wish to conduct renovations to our property in Cornwall. Do we need to choose a local Cornwall solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?
Leeds Building Society don't usually instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
Last month we had a mortgage agreed in principle with Nationwide. Cornwall conveyancing solicitors were appointed. How long does it take for Nationwide to issue the offer to the property lawyer?
There is no definitive answer here. Have Nationwide done the survey? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Hoping to buy a property located in Cornwall and I am already nervous. I couldn't find anything specific about Cornwall. Conveyancing will be needed in due course but do you know about the Cornwall area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Cornwall. In the meantime here are some basic statistics that we found
Back In 2009, I bought a leasehold flat in Cornwall. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Cornwall who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Cornwall conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Cornwall Leasehold Conveyancing - Sample of Queries Prior to buying
What is the length of the lease? You should want to find out as much as possible concerning the company managing the building as they will either make living at the property much easier or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to day to day matters like the upkeep of the common parts. You should not be afraid to ask other tenants what they think of their service. Finally, investigate as to the dates that the service charges are due to the relevant party and precisely what you get for your money. The answer will be important as a) areas may cause problems in the building as the communal areas may start to deteriorate where repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have full disclosure