Am I correct in assuming that the fact that my solicitor in Maryport is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?

It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Maryport conveyancing practice and ask them why they are no longer on the approved list for your lender.

I am buying a flat and require a conveyancing solicitor in Maryport who is on the Bank of Ireland solicitor. Can you recommend a local firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Maryport. We dont recommend any particular firm.

How does conveyancing in Maryport differ for new build properties?

Most buyers of new build residence in Maryport come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because developers in Maryport typically purchase 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 property lawyers 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 used to new build conveyancing in Maryport or who has acted in the same development.

My father has recommend that I appoint his conveyancers in Maryport. Should I use them?

No doubt the ideal way to choose a conveyancing practitioner is to have recommendations from friends or family who have actually previously instructed the firm that you are contemplating using.

Are there common problems that you witness in leases for Maryport properties?

There is nothing unique about leasehold conveyancing in Maryport. All leases are individual and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

A provision to repair to or maintain elements of the property Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and TSB all have very detailed requirements 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 buyer to pull out.

I own a garden flat in Maryport, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Maryport with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2105

You have 80 years unexpired we estimate the premium for your lease extension to span between £7,600 and £8,800 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.